* Microsoft, Amazon fall after results
* American Express profits in line, but down vs year ago
* Schlumberger down after outlook, Black & Decker rallies
* Consumer sentiment drops in July (Updates to midday, changes byline)
By Ryan Vlastelica
NEW YORK, July 24 (Reuters) - U.S. stocks fell on Friday, pressured by disappointing quarterly results in the tech sector and weak consumer sentiment data.
The decline came a day after a rally took the Dow industrials above the 9,000 level for the first time since early January.
Tech stocks fell after Microsoft Corp reported fourth-quarter revenue figures that missed expectations. The stock, down 9 percent at $23.26, was the biggest drag on both the Dow and the Nasdaq. The S&P Information Technology sector, down 1.3 percent at 311.94, was the heaviest weight on the S&P 500.
Online retailer Amazon.com pressured Internet stocks after it reported second-quarter revenue that missed expectations and gave a modest third-quarter outlook. Amazon's stock dropped 8.5 percent to $85.92, while Overstock.com slid 4.7 percent to $13.34.
"Microsoft's and Amazon's results make me a little more bearish on the rest of the earnings season," said Christopher Zook, the chairman and investment chief of CAZ Investments in Houston.
"After Intel beat expectations, companies have felt a lot of pressure to post good results or take a positive tone in their earnings call. Microsoft isn't doing that and it's getting killed," Zook added.
The Dow Jones industrial average slipped 24.87 points, or 0.27 percent, to 9,044.42. The Standard & Poor's 500 Index fell 3.87 points, or 0.40 percent, to 972.42. The Nasdaq Composite Index lost 20.33 points, or 1.03 percent, to 1,953.27.
The market's mood also soured after a report showed U.S. consumer confidence waned in late July to its lowest reading since April, according to the Reuters/University of Michigan Surveys of Consumers.
"The sentiment data doesn't surprise me. People are still concerned," Zook said. "There's a lot of unemployment and talk of further unemployment with the new minimum wage laws. You can't jack up pay and not see an effect from that."
Dow component American Express rose a modest 0.3 percent to $29.53 a day after it posted second-quarter profits that met expectations, but were down sharply from a year ago.
Schlumberger Ltd warned that it didn't expect a rebound in spending by its oil- and gas-producing customers this year, but tool manufacturer Black and Decker raised its full-year profit view.
Schlumberger's stock fell 3.3 percent to $55.87, while Black & Decker shares climbed 7.9 percent to $36.39.
U.S. Treasury Secretary Timothy Geithner testified that he was willing to work with lawmakers on shaping an overhaul of financial regulations, insisting that major changes were necessary.
Geithner, Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp Chairman Sheila Bair are testifying before the U.S. House Financial Services Committee on regulatory reform.
On Thursday, the S&P 500 closed at its highest level since Election Day in November, while the Nasdaq marked a winning streak of 12 straight days, its longest run since 1992. (Editing by Jan Paschal)