Stocks rose in early trading extending gains from the previous day, after a surprise rate cut by China's central bank and a successful bond auction by Spain cheered investors around the globe. China's central bank cut its range of lending and deposit rates by a quarter percentage point in an effort to address the slowdown in the nation's manufacturing sector. Its key 1-year lending rate fell to 6.31%. While there had been growing hopes for action by the Chinese government to stimulate the economy, the timing of Thursday's announcement was a surprise. Meanwhile, the Spanish government held a bond auction that was an important test of its ability to raise money from investors, two days after its treasury minister warned the country was at risk of being shut out of financial markets. Demand was more than three times the €611 million worth of 10-year bonds that Spain offered, up from a bid-...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)