U.S. stock index futures were mixed on Thursday as investors assessed earnings from Alphabet and Tesla while focusing on progress in trade deals between the U.S. and its top partners. Google-parent Alphabet raised its capital spending plans for the year to about $85 billion and predicted a further increase next year,

Wall Street is hanging near its records on Thursday, but the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rising, and Tesla is tumbling following a jumble of profit reports from big U.

Wall Street expressed a cautious tone on Thursday, with the major averages closing mixed as investors weighed a wave of corporate earnings—highlighted by results from Alphabet and Tesla—against rising Treasury yields following an unexpected fall in jobless claims.