(Updates with open of US markets)

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Microsoft ( MSFT ) tumbles after earnings, weighing on stocks

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Apple ( AAPL ) results awaited

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Oil jumps on US-Iran tensions

By Chuck Mikolajczak

NEW YORK, Jan 29 (Reuters) - Global shares slipped on

Thursday and were on track to snap a six-session streak of

gains, weighed down by a sharp drop for Microsoft ( MSFT ) after its

quarterly results, while oil prices jumped on U.S.-Iran

tensions.

On Wall ‌Street, U.S. stocks were lower in the early stages of

trading, dragged lower by a drop of more than 11% in Microsoft ( MSFT )

shares, putting ​the company on track for its biggest

daily percentage drop since March 2020 with investors unnerved

by record ‍spending on artificial intelligence last quarter.

That overshadowed a gain of more than ⁠8% in Meta Platforms ( META )

after ⁠its quarterly results and illustrated how

investors are willing to forgive massive AI spending as long as

it is accompanied by strong growth.

Fellow "Magnificent ‌Seven" member Tesla dipped nearly

2% after reporting earnings while ​Apple is scheduled to

post results after the closing bell.

"Quite a different story from their earnings last quarter

and when you look at the reaction and sentiment, maybe a ⁠bit of

de-risking going into the print," said Adam ‍Turnquist, chief

technical strategist ​for LPL Financial in Charlotte, North

Carolina.

The Dow Jones Industrial Average fell 69.72 points,

or 0.15%, to 48,945.88, the S&P 500 fell 53.52 points, or

0.77%, to 6,924.51 and the Nasdaq Composite ‍fell 379.35

points, or 1.59%, to 23,478.10.

MSCI's gauge of stocks across the globe fell

5.18 points, or 0.49%, to 1,046.49, its first decline after six

sessions of gains, while the pan-European STOXX 600

index rose 0.17% as gains in mining and energy

stocks helped offset a drop in technology names.

The dollar index, which measures the greenback

against a basket of currencies, rose 0.36% to 96.51, its second

straight daily advance after a ​recent bout ‍of weakness, with the

euro down 0.22% at $1.1926.

The dollar was supported in part by Wednesday's decision by the

Federal Reserve to leave interest rates unchanged, with Chair

Jerome Powell citing a solid ​economy and lowered risks to both

inflation and employment, indicating the central bank could have

a long runway before cutting rates again.

U.S. economic data on Thursday showed weekly initial jobless

claims fell, indicating layoffs remained low, although soft

hiring kept consumers pessimistic about the labor market.

Oil prices surged, with U.S. crude up 2.67% to $64.90 a

barrel and Brent rising to $70.31 per barrel, up 2.79%

on the day after climbing more than 5% on concerns about a

possible U.S. military attack on ​Iran.

The geopolitical tensions helped keep upward pressure on

gold, which hit a record of $5,594.82 an ounce, its ninth

straight record high. Gains faded, however, and spot gold

was last down 4.13% at $5,176.45 an ounce.