Investor sentiment improved after the Bureau of Labor Statistics released its latest jobs report, which showed 57,000 jobs being added in June. That's roughly half of what analysts surveyed by The Wall Street Journal ahead of the report expected, but investors became more hopeful that interest rate hikes can be avoided, at least for now. But it isn't expected to be a meaningful long-term change in the macroeconomic landscape, says Jonas Goltermann of Capital Economics in a note. "The data released today don't change our view that the market is underestimating the chances of the FOMC returning to rate hikes later this year," says Goltermann, forecasting continued tightening in the labor market. (kirk.maltais@wsj.com)