U.S. job growth surged in September, with the unemployment rate falling to 4.1%.

U.S. job growth accelerated in September, with the unemployment rate falling to 4.1%, further reducing the need for the Federal Reserve to maintain sharp interest rate cuts in the remaining two meetings of the year. The employment report released by the Labor Department's Bureau of Labor Statistics on Friday showed that the non-farm payroll increased by 254,000 in September, and was revised up to 159,000 in August. Federal Reserve Chairperson Jerome Powell recently rejected investor expectations for another 50 basis point rate cut in November, saying "this committee does not feel it is in a hurry to cut rates quickly".