Stocks pared gains in late trading on Friday, as worries about Greece increased after news that a derivatives group has declared a Greek credit event.

Greece triggered the payment on default insurance contracts by using legislation that forces losses on all private creditors, the International Swaps and Derivatives Association said on Friday.

The Dow Jones industrial average <.DJI> was up 13.36 points, or 0.10 percent, at 12,921.30. The Standard & Poor's 500 Index <.SPX> was up 4.34 points, or 0.32 percent, at 1,370.25. The Nasdaq Composite Index <.IXIC> was up 15.01 points, or 0.51 percent, at 2,985.43.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)

Event