The S&P 500 index ended the trading day on Tuesday slightly higher as gains in tech-related shares offset worries about a weakening outlook for earnings.

Gains in Amazon, Facebook and Apple were key to the gains chalked up by the S&P 500 index, up 0.12% and the Nasdaq composite index, which ended the day up 0.54%. The Dow Jones Industrial Index fell 0.08%

Netflix closed out the trading day with a 1% gain after Cowen and Co said the company would benefit from high viewership for the recently released third series of its original show “Stranger Things”.

Meanwhile Wall Street braced for remarks this week from Fed Chairman Jerome Powell during his two-day testimony before Congress, which starts on Wednesday. Also due on Wednesday is the central bank’s June policy meeting minutes.

Wall Street’s main indexes have retreated from their record closing highs after a robust June jobs report on Friday tempered expectations of an aggressive 50-basis-point interest rate cut by the Fed.

Trade tensions and their effect on corporate America will be front and center when S&P 500 companies kick off the second-quarter earnings season next week.

RBC Capital Markets downgraded 3M to “sector perform,” citing macro pressures from China, auto and electronics sectors. The industrial conglomerate’s shares fell 2.1%, while the S&P industrial index closed out the day down 0.2%.

Analysts’ forecasts for S&P 500 companies profits weakened further Tuesday, with second-quarter earnings now expected to have fallen 0.2% from a year earlier, according to Refinitiv IBES data.

In another sign of the trade war’s impact, Germany’s BASF forecast a 30% decline in its adjusted annual earnings, citing trade friction.

The United States and China are set to relaunch trade talks this week after a two-month hiatus. White House economic adviser Larry Kudlow said discussions with the European Union on a trade pact were also progressing.

Approximately 5.77 billion shares changed hands on the major domestic equity exchanges on Tuesday, as compared to the 6.74 billion share average over the past 20 trading days.