Stocks eked out modest gains Friday, buoyed by a better-than-expected government jobs report, but still ended off their best levels following news of a "credit event" in Greece.
Meanwhile, the S&P 500 and Nasdaq logged gains for a fourth consecutive week.
The Dow Jones Industrial Average squeezed out a gain of 14.08 points, or 0.11 percent, to close at 12,922.02, led by JPMorgan . Hewlett-Packard led the laggards.
The S&P 500 gained 4.96 points, or 0.36 percent, to end at 1,370.87. The Nasdaq rose 17,92 points, or 0.60 percent, to finish at 2,988.34.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended near 17 following a mid-week spike.
For the week, the Dow slipped 0.43 percent, while the S&P added 0.09 percent, and the Nasdaq climbed 0.41 percent. H-P was the biggest weekly decliner on the Dow, while Wal-Mart led the gainers.
Telecoms were the biggest sector gainers for the week, while materials lagged.
And today marks the three-year anniversary of the bull market following the global banking crisis. The Dow and the S&P 500 have both rallied almost 100 percent since the March 2009 lows, while the Nasdaq has surged more than 130 percent. (Read More: Stocks Double in 3 Years, But Many Stay on Sidelines)
In afternoon trading, Greece triggered the payment on default insurance contractsby using legislation that forces losses on all private creditors, according to the International Swaps and Derivatives Association. Earlier, ratings agency Fitch cut Greece's rating to "restricted default" over its bond swap deal.
Meanwhile, traders said the move had been widely expected, helping to limit the market's losses. And the euro remained little changed.
This comes a day after Greece completed the bond swap deal with private creditors, which was approved by nearly 84 percent of the bondholders.
On the economic front, employers added 227,000 jobs last month, according to the Labor Department, while the unemployment rate held steady at a three-year low of 8.3 percent. Economists polled by Reuters had expected a gain of 210,000.
"The economy continues to build momentum at a given rate and that helps reinforce confidence and that we could begin see more corporations hire again,” said Matt Kaufler, portfolio manager at Federated Investors. “[However,] if we get negative news on the geopolitical front, that could rattle the markets.”