U.S. stocks drifted to a mixed finish on Wednesday after the Federal Reserve indicated it may cut interest rates twice this year, though it’s far from certain about that.

The S&P 500 finished nearly unchanged and edged down by less than 0.1% after flipping between modest gains and losses several times. The Dow Jones industrial average dipped 44 points, or 0.1%, and the Nasdaq composite rose 0.1%.

Treasury yields also wavered but ultimately held relatively steady after the Fed released a set of projections showing it expects to cut the federal funds rate twice by the end of 2025. That’s the same number they were projecting three months ago.

Adding to the uncertainty Wednesday were continued swings for oil prices. After topping $74 during the morning, the price for a barrel of benchmark U.S. oil dropped below $72 before settling at $75.14, up 0.4% from the day before. Brent crude, the international standard, rose 0.3% to $76.70.

On Wall Street, Nucor rose 3.3% after the steelmaker said it expects to report growth in profit for all three of its operating groups in the second quarter. It said it benefited from higher selling prices at its sheet and plate mills, among other things.

All told, the S&P 500 fell 1.85 points to 5,980.87. The Dow dipped 44.14 to 42,171.66, and the Nasdaq composite added 25.18 to 19,546.27.

In the bond market, Treasury yields held relatively steady following a few wavers up and down.

The yield on the 10-year Treasury edged down to 4.38% from 4.39% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for what the Fed will do with its overnight interest rate, held at 3.94%.

The moves followed a mixed set of reports on the U.S. economy released earlier in the day. One said fewer workers applied for unemployment benefits last week, which could be an indication of fewer layoffs. But a second report said that homebuilders broke ground on fewer homes last month than economists expected.

— Associated Press