PODCAST: Fiat buys the rest of Chrysler

Fiat automobiles are displayed on the showroom floor of the Fiat of North Miami store on July 3, 2012 in North Miami, Florida.

The FT100 in London is down about a tenth percent on this first day of trading in 2014. Dow, S&P and Nasdaq futures are all down. The number of people signing up for unemployment benefits dipped slightly in the last week, a hint that the job market is holding steady.

The Italian carmaker Fiat has reached a deal to buy the rest of American automaker Chrysler, something it has wanted to do for years. Fiat hopes the deal will make it easier for them to compete with companies like Toyota and Volkswagen. Perhaps more importantly, Fiat desperately needs some of Chrysler’s cash.

And, foreclosures are way down from the worst of the housing crisis. But as we start this new year, don’t be surprised if some places see a rise in foreclosure sales. That’s because foreclosures that have been slowly working their way through judicial pipelines are now coming to market. That may prove a rude awakening in some areas.

About the author

David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio

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