U.S. stocks end mixed after jobs report

U.S. stocks closed mixed after wavering in a tight range Friday, as investors digested the country' s stronger-than-expected jobs report.

The Dow Jones Industrial Average fell 21.51 points, or 0.11 percent, to 19,170.42. The S&P 500 edged up 0.87 points, or 0.04 percent, to 2,191.95. The Nasdaq Composite Index rose 4.54 points, or 0.09 percent, to 5,255.65.

U.S. total nonfarm payroll employment increased by 178,000 in November, and the unemployment rate declined to 4.6 percent, the lowest level in nine years, announced the Labor Department Friday.

Analysts said the better-than-expected jobs data might strengthen the case for an interest rate hike later this month.

As long as the unemployment rate was stable at or near 5 percent, Federal Open Market Committee (FOMC) participants were content to say the economy was at or near full employment, said Chris Low, chief economist at FTN Financial.

"Now, with the rate at 4.6 percent, the hawks are likely to begin to warn against economic overheating," he added.

U.S. Federal Reserve will hold its next policy meeting, also the final of the year, on Dec. 13-14.

Investors widely expected the Fed would move the rates at the December meeting. According to the CME Group's FedWatch tool Friday, market expectations for a December rate hike were 97.2 percent.

Investors also kept a close eye on the Italian referendum, which is scheduled for Sunday.

With this plebiscite, Italian Prime Minister Matteo Renzi wants to change the constitution so that the executive branch needs approval only from parliament's lower house in order to pass laws, according to the CNBC.

For the week, the blue-chip Dow inched up 0.1 percent, and the broader S&P 500 dipped 1.0 percent, while the tech-heavy Nasdaq tumbled 2.7 percent. Enditem