Morgan Stanley Embraces Crypto Trading

CRYPTO
Morgan Stanley Embraces Crypto Trading

Morgan Stanley, one of the world’s top investment banks, plans to offer crypto trading on its consumer platform ETrade next year, according to Bloomberg. This move follows President Trump’s pro-crypto deregulation efforts, which include rolling back previous restrictions and establishing a national Bitcoin reserve. To support the technical side of trading, Morgan Stanley may partner with established crypto firms.

ETrade, acquired in 2020 for $13 billion, currently allows exposure to crypto via ETFs but doesn’t support direct trading. The new plan would change that for over 5 million users, letting them buy and sell digital assets like Bitcoin directly. The Federal Reserve recently reversed prior crypto guidance, opening the door for more institutional involvement. Morgan Stanley would be joining other firms such as Fidelity and Bank of America, which are also moving into crypto. If successful, the bank would compete with crypto-native platforms like Coinbase and Robinhood in an increasingly crowded market.

FINANCE
Shell Beats Expectations, Adds Buybacks

Shell reported stronger-than-expected first-quarter earnings of $5.58 billion, surpassing analyst forecasts despite a 28% drop from the same period last year. Analysts had predicted profits between $4.96 and $5.09 billion. Shares rose nearly 3% following the report. Shell also announced a new $3.5 billion share buyback program, marking the 14th straight quarter of buybacks of at least $3 billion.

This comes as the company maintains investor returns amid falling oil prices, weak demand, and policy uncertainty under President Trump’s administration. While Big Oil profits have cooled since their 2022 highs, Shell continues to focus on shareholder value. In contrast, rival BP cut its buybacks after disappointing earnings. CEO Wael Sawan called the quarter “another solid set of results,” highlighting Shell’s resilience and commitment to its strategy. The company reaffirmed its lowered annual investment range of $20–$22 billion for 2025 and remains focused on LNG expansion and disciplined capital spending.

TECH
Apple Faces $900M Tariff Hit

Apple CEO Tim Cook addressed concerns about President Trump’s trade war, revealing it would cost Apple an extra $900 million in the June quarter due to new tariffs. The March quarter had only a “limited impact.” Cook declined to estimate long-term costs, saying the situation remains fluid. Investors were looking for clearer guidance, and Apple’s stock fell 4% to $204.94 in after-hours trading.

To manage the impact, Cook said Apple is shifting production away from China. Most iPhones for the U.S. will now come from India, while Macs and iPads will be sourced from Vietnam. He emphasized the risks of relying too heavily on one country and confirmed Apple would continue diversifying its supply chain.

Cook avoided naming Trump directly but noted Apple is engaged in ongoing talks about tariff policy. He also highlighted Apple’s $500 billion U.S. investment plan, aligning with Trump’s goal of boosting domestic manufacturing.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.