Wall Street lower as earnings take sheen off oil surge

Wall Street was lower on Friday after a slew of disappointing earnings reports from Microsoft and other major companies eclipsed a surge in oil prices which boosted 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.