The Federal Reserve, which has begun buying individual corporate bonds outright for the first time, detailed its purchases of corporate bonds on Sunday. The purchases span a range of industries and included bonds from AT&T (T), Berkshire Hathaway (BRK.A), Boeing (BA), CVS (CVS), Caterpillar (CAT), Chevron (CVX), Coca-Cola (KO), Dupont (DD), Ford (F), GM (GM), HP (HPQ), Home Depot (HD), IBM (IBM), Marriott (MAR), Medtronic (MDT), Paypal (PYPL), Pepsico (PEP), Philip Morris (PM), UnitedHealth (UNH) and Walmart (WMT).

The latest data from the Johns Hopkins Whiting School of Engineering shows there are now 10.18M confirmed cases of COVID-19 worldwide, including 2.55M in the U.S., and 502,634 deaths due to the disease.

TOP NEWS: Starbucks (SBUX) told CNBC in a statement this weekend that it will pause advertising on "all social media platforms" and have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech, while Coca-Cola (KO) CEO James Quincey also said his company will pause paid advertising on all social media platforms globally for at least 30 days, becoming the latest big brand to do so. Meanwhile, Reuters reported that Ford (F) said it would pause advertising on all social media platforms in the U.S. for the next 30 days, while CNBC reported that Adidas (ADDYY) will pause advertising on Facebook and Instagram. In addition, Axios reported that Microsoft (MSFT) has also been pausing Facebook ad spending globally while Bloomberg said that Best Buy (BBY) will pause Facebook advertising for the month of July.

Gilead (GILD) announced that it has set a price for governments of developed countries of $390 per vial for remdesivir, which has shown potential against COVID-19. The "vast majority of patients are expected to receive a 5-day treatment course using 6 vials of remdesivir, which equates to $2,340 per patient," the company said, adding that the pricing of remdesivir is set "to achieve the aim of providing immediate net savings for healthcare systems." However, "because of the way the U.S. system is set up and the discounts that government healthcare programs expect," the price for U.S. private insurance companies, will be $520 per vial, Gilead stated.

Shares of Boeing (BA) rose 14.4% following media reports indicating that the company has received Federal Aviation Administration approval to start test flights of its 737 Max to demonstrate that it can fly safely with new flight control software. CNBC's Phil LeBeau later reported that the company's first 737 MAX recertification flight had officially started.

Shares of Intercept Pharmaceuticals (ICPT) plunged 39.7% after the company announced that the FDA has issued a Complete Response Letter regarding the New Drug Application for obeticholic acid for the treatment of fibrosis due to nonalcoholic steatohepatitis, or NASH. Similarly, Heron Therapeutics (HRTX) announced that it received a Complete Response Letter from the FDA regarding its New Drug Application for HTX-011 for the management of postoperative pain, with both companies stating that the FDA has asked for additional information related to their drug approval applications. Heron shares fell 28.1% after the news.

Meanwhile, The Verge reported that Amazon's (AMZN) Twitch has temporarily banned U.S. President Donald Trump for "hateful conduct" that was aired on stream. The move comes as Reddit reportedly banned r/The_Donald, an online community of 800,000 Trump supporters amid a major overhaul of the platform's hate speech and harassment policies.

In addition, AMC Entertainment (AMC) shares were 6.2% higher after the company announced a new U.S. reopening date of July 30, when it will resume operations of 450 U.S. theaters as part of a new phased plan that is expected to bring over 600 U.S. theaters essentially to full operation by early August.

MAJOR MOVERS: Among the noteworthy gainers was Ideanomics (IDEX), which rose 43.1% after responding to short-selling communications from J Capital and Hindenburg, rebuffing claims of not having sufficient cash to fund operations. Also higher was Kiniksa (KNSA), which gained 12.9% after the company said its Phase 3 trial of rilonacept met its efficacy endpoints.

Among the notable losers was Beyond Meat (BYND), which slid 7.1% after Barclays analyst Benjamin Theurer double downgraded the stock to Underweight from Overweight.

INDEXES: The Dow rose 580.25, or 2.32%, to 25,595.80, the Nasdaq gained 116.93, or 1.2%, to 9,874.15, and the S&P 500 advanced 44.19, or 1.47%, to 3,053.24.