Wall Street was trending lower in early Thursday trading after U.S. President Donald Trump said he was dialing back some of the tariffs imposed on China following a meeting met with Chinese leader Xi Jinping.

Trading was mixed for some of the biggest American technology companies that reported their latest quarterly earnings.

Futures for the S&P 500 ticked down 0.2%, while Dow futures slid 0.4%. Futures for the Nasdaq, where most big technology companies trade, also fell 0.2%.

Google's parent company Alphabet jumped 8.6% after it announced its first-ever quarter with more than $100 billion in revenue and a profit of nearly $35 billion. Both figures easily exceeded the analysts’ projections that steer the stock market.

The strong results come on the heels of a court ruling in the U.S. J

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