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US stocks gain on stimulus moves in China, Europe

U.S. stocks moved higher in afternoon trading Friday, propelled by news of an interest rate cut in China and the possibility that Europe’s central bank will step up stimulus efforts in the region. The rally had the Dow Jones industrial average and Standard & Poor’s 500 index on pace to extend their record highs from a day earlier. KEEPING SCORE: The Standard & Poor’s 500 index gained six points, or 0.3 percent, to 2,059 as of 1:21 p.m. Eastern time. The Dow Jones industrial average rose 58 points, or 0.3 percent, to 17,777. The Nasdaq composite added 12 points, or 0.3 percent, to 4,714. The Dow and S&P 500 are…