Wall Street surged over 2 percent 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 Friday, its strongest day since September. 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. Microsoft shares jumped 5.83 percent on better than expected results.