12:04 PM EST, 01/06/2025 (MT Newswires) -- All three major US stock indexes were trading higher around midday Monday, with the Nasdaq and S&P 500 up at least 1%.

US President Joe Biden on Monday issued presidential memoranda restricting new offshore oil and gas drilling off the country's East and West Coasts, the eastern Gulf of Mexico, and parts of the Northern Bering Sea in Alaska.

The Federal Reserve said Monday that Vice Chair for Supervision Michael Barr will step down from the position, effective Feb. 28, but will remain a governor on the Federal Reserve Board. Barr said that he believed the "risk of a dispute over the position could be a distraction from our mission."

Republicans, who will control the White House and both houses of Congress after the inauguration of President-Elect Donald Trump later this month, have particularly pushed back again tighter restrictions and more transparency on how banks are addressing environmental concerns.

In company news, Walt Disney ( DIS ) and FuboTV ( FUBO ) said that Disney ( DIS ) agreed to combine its Hulu + Live TV business with Fubo. Under the deal, Disney ( DIS ) will own about 70% of Fubo at closing, with Fubo's existing management team operating the newly combined businesses. Shares of Disney ( DIS ) were up 1% and FuboTV ( FUBO ) soared about 208%.

United States Steel ( X ) and Nippon Steel said Monday they jointly filed a federal lawsuit seeking to dismiss President Joe Biden's order to block Nippon's proposed acquisition of U.S. Steel. The companies have also filed suit against Cleveland-Cliffs ( CLF ) Chief Executive Lourenco Goncalves and United Steelworkers President David McCall for what they described as "illegal and coordinated actions" to prevent Nippon's acquisition of US Steel. Cleveland-Cliffs ( CLF ) and the United Steelworkers did not immediately respond to requests for comment from MT Newswires.

Shares of U.S. Steel climbed 4.1% and Cleveland-Cliffs ( CLF ) advanced 6.7%.

Southwest Airlines ( LUV ) , American Airlines ( AAL ) and United Airlines (UAL) were among the US carriers that canceled flights early Monday due to Storm Blair, FlightAware data showed. Shares of Southwest Airlines ( LUV ) were up 1.7%, American Airlines ( AAL ) rose 4.7% and United Airlines gained 4.7%.

Boeing ( BA ) and the US Justice Department informed a court on Friday they have yet to finalize a revised plea agreement after a federal judge rejected an original proposal in December, multiple media outlets reported, citing a court filing. Boeing ( BA ) and the DOJ did not immediately respond to MT Newswires' request for comment. Boeing ( BA ) shares were up 0.8% in recent Monday trading.

Price: 112.30, Change: +1.14, Percent Change: +1.02