Market this Monday 10/22

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The market remaines uneasy although several companies including Merck & Co. and Hasbro Inc. reported decent third-quarter results. Investors remain mindful of the downbeat profit outlooks from some blue chip companies and Standard & Poor's downgrade of another series of mortgage-backed securities; those developments sent stocks plunging Friday, taking the Dow Jones industrials down 366 points.

Fed Governor Randall Kroszner at a speech in Washington reaffirmed that the central bank will "act as needed" to calm the financial markets, according to Dow Jones Newswires....Dow red 79 Points, Naz +1.97 rtq.

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indices have recovered off their opening lows with Naz now in positive territory, while the S&P and Dow are trading with modest losses....G-7 finance ministers have concluded that global economic growth will moderate. This forecast is not new, considering last week the IMF also reduced its forecast for global economic growth.

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A follow through in selling efforts is pushing the indices lower. Continued concerns over deteriorating credit quality, and foreign markets taking a pounding are weighing on the indices....Dow printing over 100 red Points to tape, whith Naz also turning negative with -1.92 Points.

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problems with structured credit products, which dampened the profits at several banks in the third quarter are recovering, but gradually according Fed Governor Randall Kroszner at a speech in Washington.

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Merck 3Q Profit Jumps 62 Pct

The Whitehouse Station, N.J.-based maker of osteoporosis treatment Fosamax and Singulair for asthma and allergies reported net income of $1.53 billion, or 70 cents per share, for the three months ended Sept. 30 up from $940.6 million, or 43 cents per share, a year earlier.....