Wall Street rallies to cap worst January in seven years

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

The Dow Jones industrial average <.DJI> rose 390.08 points, or 2.43 percent, to 16,459.72, the S&P 500 <.SPX> gained 46 points, or 2.43 percent, to 1,939.36 and the Nasdaq Composite <.IXIC> added 107.28 points, or 2.38 percent, to 4,613.95.

(Reporting by Chuck Mikolajczak; Editing by James Dalgleish)