NEW YORK (AP) — U.S. stocks rose to more records on Tuesday after the latest update on the job market bolstered Wall Street’s hopes 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 0.3% and squeaked past its all-time high set last week . The Dow Jones Industrial Average climbed 196 points, or 0.4%, while the Nasdaq composite gained 0.4%. They likewise set records.

Traders have become convinced that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in a week to prop up the slowing job market . A report on Tuesday offered the latest signal of weakness, when the U.S. government said its prior count of jobs across the country thro

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