US STOCKS-Microsoft drives tech rally; Wall St up almost 2 percent
* Q4 US GDP data misses estimate
* Microsoft up after strong results, boosts S&P, Nasdaq
* Xerox up after deal with Icahn to split into two
* Indexes up: Dow 1.87 pct, S&P 1.84 pct, Nasdaq 1.67 pct (Updates to afternoon)
By Noel Randewich
Jan 29 (Reuters) - Wall Street surged nearly 2 percent on Friday after the Bank of Japan unexpectedly cut interest rates and Microsoft led a strong rally in technology shares.
Stocks also got a boost from weak fourth-quarter U.S. GDP data, which bolstered arguments that the Federal Reserve might go slower than expected on future rate hikes.
While the Fed has not ruled out a rate hike in March, many investors believe recent global economic and financial turmoil may lead it to wait.
Japan's central bank cut a benchmark rate below zero to stimulate its economy, a surprise move that boosted global equities. Continuación...