(CNBC) U.S. stocks closed mostly flat on Friday, with financials falling around 1 percent, as investors braced themselves for a key constitutional referendum in Italy while digesting a stronger-than-expected jobs report.
The Dow Jones industrial average fell about 20 points in choppy trade, with Caterpillar and Goldman Sachs contributing the most losses. The S&P 500 ended around the flatline, with financials leading decliners. The Nasdaq composite also closed around breakeven.
The Italian referendum 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. Renzi thinks this change is so important to turn around Italy's lackluster economy that he has vowed to resign if the referendum is defeated.
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