Friday Morning Coffee with TradingMarkets

Good Morning!

Bernanke Urges Banks to Raise Capital ... Crude Oil Hits New Record ... California Supreme Court Overturns Gay Marriage Ban ... Yahoo! Rebuffs Icahn Offensive ... Japanese Economy Grows Faster than Expected ... British Airways Profit Doubles ... Central Banks Hint at End of Monetary Accommodation ... Buffett's Berkshire Hathaway Increases Stakes in Kraft, Wells Fargo ... Paul Tudor Jones Sells Technology, Buys Financials

Asian stocks up ... European stocks up ... The dollar steady against the Euro, Japanese yen ... And the futures are trending higher in the hour before the bell.

Join CNBC guest commentator and TradingMarkets Forex Guru Mark Whistler TODAY at 1 p.m. Eastern for his free Weekly Teleconference. Find out what events on the horizon may have a dramatic effect on your forex trading over the coming days. Click here to reserve your spot today!

TradingMarkets 5 Business Stories You Need to Know

Yahoo! Fights Back - Bloomberg
Yahoo! chairman says current board provides better leadership than Icahn's proposed slate, defends rejection of Microsoft bid.

CBS Adds CNET for $1.8 Billion - Forbes
With its purchase of CNET Networks, CBS will turn itself into a significant Internet presence. But can CBS run with the big boys of the online universe?

EUR/USD: Rangebound, Rally or Reaction? - DailyFX
DailyFX currency analyst Terri Belkas ponders the next move in the EUR/USD and investigates the likelihood that U.S. economic data will influence the EUR/USD's near term direction. Speaking of direction, do you have an idea of which way the forex pairs are headed over the next few days? Play our TradingMarkets Up or Down Forex Contest for your chance to win $1,000 a month! Click here to register for free today!

Abercrombie Beats, Maintains Guidance - CNN Money
Strong sales and increased gross profits helped hip retailer Abercrombie and Fitch post earnings that were above Wall Street estimates.

Bernanke and Bubbleology - Wall Street Journal
A study of financial manias, panics and bubbles has characterized the academic work of Fed chief Bernanke - and increasingly that of young up and coming scholars and economists in his wake.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

• Abercrombie and Fitch (ANF | Quote | Chart | News | PowerRating) reported earnings of $0.69 this morning before the bell, beating analyst estimates.
  

• Shares of EMC Corporation (EMC | Quote | Chart | News | PowerRating) gained more than 6% on speculation that it will sell off its stake in VMware (VMW | Quote | Chart | News | PowerRating).
  
  
• Citigroup raised shares of the Chinese web portal Sina Corporation (SINA | Quote | Chart | News | PowerRating) from "hold" to "buy." Sina reported an 87% gain in profits for the quarter.
  
  
• Kohl's (KSS | Quote | Chart | News | PowerRating) beat analyst estimates today, even though the company reported softer profits and declining same store sales.
  
  
• Nvidia (NVDA | Quote | Chart | News | PowerRating) gained nearly 8% on continued optimism on a strong second half of 2008 for chipmakers based on increased worldwide demand.
  
  
• CBS Corporation (CBS | Quote | Chart | News | PowerRating) had agreed to buy CNET Networks for $1.8 billion in a deal finalized Thursday.
  

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

TradingMarkets Tracking the Wizards

FX Guru Mark Whistler Live at TradingMarkets - TradingMarkets
CNBC guest and professional forex trader Mark Whistler provides his insights on the currency markets today 1 p.m. Eastern at TradingMarkets.com. Click the link in the headline above to reserve your spot.

PowerShares ETFs Make Great Trading and Investing Tools - TradingMarkets
TradingMarkets contributor Toni Turner explains how investors and traders alike can take advantage of exchange-traded funds

Know Your Options on Expiration Day - TradingMarkets
Options traders and TradingMarkets contributor John Emery breaks down what happens before, during and after options expiration day. A must read for new options traders.

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