Earnings drag Wall Street lower even as oil steadies

Disappointing earnings reports from Microsoft and other major companies pushed Wall Street lower on Friday, overshadowing a surge in oil prices which lifted energy shares. Microsoft was the biggest drag on all three major indexes. The S&P 500 has staged a recovery from a steep selloff earlier this year and is inching towards its all-time high, helped also by a cautious Federal Reserve and companies beating tempered estimates.