Dow Jones News: Intel Suspends Buybacks; Chevron Cuts Capital Spending

Investors got a reprieve on Tuesday as the major U.S. stock indexes staged a rally. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 7.7% at 11:25 a.m. EDT, rising back above the 20,000 level for the time being.

There hasn't been any good news on the novel coronavirus front. Cases and deaths continue to soar as more U.S. cities and states announce stricter measures to combat the virus. The U.S. now has over 46,000 confirmed cases and nearly 600 deaths, according to data from Johns Hopkins University.

Turning to individual stocks, both Intel (NASDAQ: INTC) and Chevron (NYSE: CVX) booked major gains. Intel was up despite the company suspending its share-buyback program, and Chevron soared after the company slashed its plans for capital spending.

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Source Fool.com