The broader market index closed just below 1333, closely followed the level that represents a doubling of the low level reached in March 2009.
Turnover was relatively low with only 7.03 billion shares traded on the New York Stock Exchange, NYSE, AMEX and NASDAQ, compared to last year's estimated daily average of 8.47 billion.
But a rebalancing of the Nasdaq 100 (.NDX), which takes effect on May 2, spurred traders to buy companies with increased weightings, including Microsoft Corp (MSFT.O), Intel Corp (INTC.O) and Cisco Systems Inc (CSCO.O), all of which rose around 1 percent.
"The volume (low) is a sign that there is little conviction of the vendors in this market," said Jeff Kleintop, chief strategist at LPL Financial in Boston.
The S & P has built slowly and gains in mid-March session rather quiet. Last week was the week in thin trading so far in 2011, and Monday was the lowest volume day of the year.
"Those who want more volume should be careful what you hope to rebound, as the volume of trade could be the return of volatility, and we have seen steady gains since last summer."
Minutes of the last meeting of the Federal Reserve was to some officials of the Fed believes that the Fed is tightening before the end of the year. stock market reaction has been muted.
Chip stocks were supported after Texas Instruments (TXN.N) on Monday offered to buy National Semiconductor (NSM.N) for $ 6.5 billion, representing a premium of 78 percent. PHLX Semiconductor Index (. SOX) rose 2.3 percent.
The Dow Jones industrial average (. DJI) fell 6.13 points, or 0.05 percent, to close at 12,393.90. The Standard & Poor's 500 (. SPX) fell slightly, to 0.24 point, or 0.02 percent, at 1,332.63. The Nasdaq Composite Index (. IXIC) rose 2.00 points, or 0.07 percent, at 2,791.19.
From Apple (AAPL.O) weighting was cut, but it is still the largest component of the 100th Nasdaq, the stock fell 0.7 percent to $ 338.89 after earlier falling as much as 1.5 percent.
The notice of a merger with Texas Instruments National Semiconductor shares up led 71 percent to $ 24.06. Texas Instruments has added 1.7 percent to $ 34.69.
"Tech Stocks head of this great wave of mergers and acquisitions, people who are trying to position themselves before and I expect to continue," said James Swanson, chief investment strategist at Boston, MFS Investment Management, which oversees about $ 200 U.S. dollars.
Trade is the latest in a series of offers of billions of dollars that have helped pushed stocks higher in recent weeks.
China's central bank has raised interest rates Tuesday for the fourth time since October, raising the suspicion that data next week may see higher inflation than expected in March.
KB Home (KBH.N) shares fell 4.2 percent to $ 11.69 after posting first-quarter loss that widened from a year earlier, hurt by lower net orders .
Advancing stocks outnumbered declining ones on the NYSE by 1,629 to 1,312, while on the Nasdaq, advancers beat decliners by 1,328 to 1,270.
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