NEW YORK�(CNNMoney) -- Stocks pared most of its earlier gains Friday as a steep sell-off in the euro dampened investor enthusiasm about a stronger-than-expected jobs report.

The Dow Jones industrial average (INDU) was up 22 points, or 0.2%. The S&P 500 (SPX) rose 6 points, or 0.2%. The Nasdaq Composite (COMP) gained 1.6 points, or 0.1%.

The market retreated from its highs following a report in German magazine Der Spiegel that Greece was considering abandoning the euro.

The news sent the euro down more than 1.1% against the dollar in afternoon trading. The dollar also gained strength against the Japanese yen but fell versus the British pound.

While it's unlikely that Greece will actually abandon the euro, it's something investors will monitor closely.

"It would be very difficult for Greece to leave the euro, especially since the Greek bailout package was created for the purpose of keeping them in the eurozone," said Peter Maris of Resource Financial Group.

The Dow had been up as much 150 points as U.S. investors cheered a much better than expected jobs report.

The U.S. economy added 244,000 jobs in April, although the unemployment rate ticked higher to 9% from 8.8%. Economists surveyed by CNNMoney were forecasting employers added 185,000 jobs in the month, with the unemployment rate remaining at 8.8%.

"Everyone was looking for this economy to find some footing, and they found it in today's jobs numbers," said Anthony Conroy, head trader at BNY ConvergEx.

Traders were especially heartened by the jobs numbers because expectations had been low -- particularly following Thursday's dismal initial jobless claims data, and Wednesday's mediocre ADP private-payrolls reports.

Friday also marks the one-year anniversary of Wall Street's 'flash crash', which sent the Dow industrials plunging nearly 1,000 points in less than 20 minutes.

Commodities: Investors continued to focus on oil, gold, and silver prices, following big declines posted earlier this week. The sell-off in the euro pushed oil and silver prices down even further.

Oil for June delivery was down $2.32, or 2.3%, to $97.53 a barrel. Crude oil prices plunged 8.6% Thursday to close below $100 a barrel for the first time since mid-March.

But some metals showed some signs of life Friday, with gold advancing $6.60 to $1,488.10 an ounce and copper up 3%.

However, silver was down 4% to $34.89 an ounce.'Flash crash' fears go global



Oil sinks below $100 a barrel



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