Stocks finished modestly higher on Wednesday, with the S&P 500 up for a fourth session, although volume was one of the year's lowest on the day ahead of the Thanksgiving holiday.

Investors welcomed news that a ceasefire was declared to end the flare-up in violence between Israel and the Palestinians, though the lack of a deal to release emergency aid for Greece limited the market's advance.

The Dow Jones industrial average .DJI gained 48.38 points, or 0.38 percent, to end at 12,836.89. The Standard & Poor's 500 Index .SPX added 3.22 points, or 0.23 percent, to finish at 1,391.03. The Nasdaq Composite Index .IXIC rose 9.87 points, or 0.34 percent, to close at 2,926.55.