The Dow Jones industrial average (INDU) rose 6 points, or less than 0.1%, to end at 12,884. The S&P 500 (SPX) added 3 points, or 0.2%, to 1,350. The Nasdaq (COMP) rose 12 points, or 0.4%, 2,916.
Given the lack of U.S. economic data Wednesday, investors continued to monitor developments in Greece, where talks on austerity reforms have been delayed several times this week.
Finance ministers from the 17 nations that use the euro currency will meet Thursday to discuss the situation in Greece, according to a spokesman for Eurogroup president Jean-Claude Juncker.
Meanwhile, Greece is also negotiating with its creditors in the private sector over a writedown and debt exchange. There were conflicting reports on the ECB's willingness to participate in a restructuring of the Greek bonds it holds.
"Everyone is waiting for Greece to accept the austerity program and move ahead," said Peter Cardillo, market strategist at Rockwell Global Capital. "It's just a question of time."
Cardillo said stocks could pull back once an official agreement is reached. But eliminating the threat of a "disorderly default" will ultimately help the market move higher, he added.
"The market has discounted the fact that Greece is headed for an orderly default, which takes the pressure off the euro and diminishes the fear factor," said Cardillo.
The dollar was slightly higher against the euro, the Japanese yen and the British pound.
Oil for March delivery rose 30 cents to end at $98.71 a barrel.
Gold futures for April delivery fell $17.10 to $1,731.30 an ounce.
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