NEW YORK — 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 percent and squeaked past its all-time high set last week. The Dow Jones Industrial Average climbed 196 points, or 0.4 percent, while the Nasdaq composite gained 0.4 percent. 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

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