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American stocks are falling in the morning trading, expanding weekly losses




NEW YORK (AP) – US stocks moved lower in morning trading, led by banks and technology companies, and set the market on track for its first losing week since January.

Utilities and real estate consisted of small gains that investors moved towards safer businesses.

Lack of concrete news about trading and long-term financial concerns has weighed on stocks all week. Investor optimism about progress in trade negotiations between the US and China seems to be slowing. Media reports have signaled that an agreement could be hit this month, but there is less confidence in some of the major issues being solved.

Despite the trade war, China is still facing a decline in economic growth, which analysts fear may affect the global economy. Meanwhile, the US trade deficit became ballooned, mainly due to poor tariffs caused by its damaging trade war with China.

China's government has also taken a number of stimulus measures the Federal Reserve in the US has withdrawn from raising interest rates and recognizing potential threats to economic growth.

POSITION: Dow Jones Industrial Average fell 256 points or 1 percent to 25,419 at. 10.30. The S&P 500 index fell 0.9 percent and the Nasdaq composite fell 0.8 percent.

CLEANUP IN AISLE THREE: Kroger drove 12 percent after the grocery store operator had poor earnings and a fourth quarter quarterly revenue that was not according to Wall Street forecasts.

TIN LES: Bookseller Barnes & Noble shed 14 percent after asking the earnings forecast for the entire fiscal year.

TAX QUOTES: H & R Block rose 5 percent after the tax software and preparatory company told investors, it is still on track to beat its finest Ncial forecast for the fiscal year.

The company reported a delay in tax returns filed during the third quarter that caused revenue. But the company's fourth quarter, the height of the tax period, is usually the strongest quarter.

OVERSEAS: The European market reduced its losses after the European Central Bank became the last central bank to recognize weaker economic growth and mitigation measures.

The ECB unexpectedly took quick action on Thursday, withdrew the earliest date of interest rate increases and announced a new round of cheap loans to banks. It said it won't increase prices until the end of this year early. Previously, it had said that the earliest interest rate increase would come in the fall.

The European government bond price increased, and the dividend was lower.



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