NEW YORK (AP) — U.S. stocks are drifting around their record levels on Tuesday following the latest discouraging signal on the job market's health. Wall Street is hoping for a slowdown that's deep enough to get the Federal Reserve to cut interest rates , but not so overwhelming that it causes a recession.

The S&P 500 rose 0.1% after bobbing earlier in the morning around its all-time high set last week . The Dow Jones Industrial Average was up 106 points, or 0.2%, as of 12:37 p.m. Eastern time, and the Nasdaq composite was edging higher by 0.1% from its own record set the day before .

Traders have become convinced that the Federal Reserve will cut interest rates for the first time this year at its next meeting in a week to prop up the slowing job market . A report Tuesday offere

See Full Page