Weak earnings, drop in oil weigh on Wall Street

A slew of mixed earnings reports by bellwethers and a drop in oil prices piled pressure on stocks with the three major indexes trading slightly lower on Thursday. Crude fell about 1 percent, but hovered near five-month highs after the International Energy Agency said 2016 would see the biggest fall in non-OPEC production in 25 years. A recent rebound in oil, better-than-expected corporate results and a cautious Federal Reserve have pushed the S&P 500 to striking distance of its life-high of