U.S. stocks extend gains as BOJ keeps policy steady

U.S. stocks traded higher in the morning session Tuesday as the Bank of Japan (BOJ) left its monetary policy unchanged after the conclusion of its two-day policy meeting.

Around midday, the Dow Jones Industrial Average added 73.94 points, or 0.37 percent, to 19,957.00. The S&P 500 gained 6.47 points, or 0.29 percent, to 2,269.00. The Nasdaq Composite Index was up 19.21 points, or 0.35 percent, to 5,476.65.

While maintaining its negative 0.1 percent interest rate on some bank reserves, the BOJ also opted to leave its 10-year Japanese government bond (JGB) yield target at about zero, while annual holdings were kept at a rise of about 80 trillion yen (682 billion U.S. dollars).

Following the policy meeting and opting to hold pat on any new policy changes, the central bank also upgraded its economic assessment saying a moderate recovery trend has continued while exports have picked up.

"Japan's economy has continued its moderate recovery trend. Overseas economies have continued to grow at a moderate pace, although emerging economies remain sluggish in part. In this situation, exports have picked up," the BOJ said in a statement on Tuesday.

There is no major economic data due Tuesday.

On Monday, U.S. stocks rebounded as investors digested a speech from Federal Reserve Chair Janet Yellen, saying that the U.S. has the strongest jobs market in nearly a decade, and there are indications wage growth is picking up. Enditem