US STOCKS-Wall Street surges at end of awful January

viernes 29 de enero de 2016 17:32 GYT

* Fourth-quarter U.S. GDP growth data misses estimate

* Microsoft jumps after strong results, boosts S&P, Nasdaq

* Xerox up after deal with Icahn to split company in two

* Indexes end up: Dow 2.47 pct, S&P 2.48 pct, Nasdaq 2.38 pct (Updates to close)

By Noel Randewich

Jan 29 (Reuters) - Wall Street surged over 2 percent on Friday after the Bank of Japan unexpectedly cut interest rates and Microsoft led a major rally in technology shares, repairing some of the damage to the S&P 500's worst January since 2009.

Slammed by collapsing oil prices that have fed doubts about the health of the global economy, stocks have had a volatile start to the year. At one point last week, the S&P's loss for 2016 reached 11 percent before recovering to end the month down 5 percent.

The index rose 2.48 percent on Friday, its strongest day since September.

"Sentiment certainly had swung to a wildly negative scenario. In the short term, I'm not sure the sentiment backdrop we've seen was warranted," said Michael Church, president of Addison Capital Management in Philadelphia.   Continuación...