Afternoon Coffee: US Ports Prepare to Accept Larger Cargo Ships, GE Considers Portfolio Sale With Wells Fargo

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US ports are preparing to accept massive cargo ships once the $5.25 billion expansion of the Panama Canal is complete next year. The Port of New York and New Jersey, for instance, are deepening its waters to allow such container ships to unload there.

General Electric is considering selling its entire $74 billion US commercial and leasing portfolio to Wells Fargo, a source close to the discussions told Reuters.

The Chicago Fed National Activity Index slipped in March, hitting -0.42, down from the -0.18 in February. The index below zero shows a slowdown in production and is below historic averages.

Target is facing a supply chain crisis: it’s new Lilly Pulitzer product line sold out at some stores within a day of its release. Target’s website also crashed as online shoppers rushed to nab the new resort-themed designer items Sunday morning.


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