Stock Market Today: Stocks mixed with Santa Claus boost in focus

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U.S. stocks were mixed in early Monday trading as investors looked to the holiday-shortened week and the traditional 'Santa Claus rally' to pull stocks out of their sharp December downturn.

Updated at 9:46 AM EST

Mixed open

The S&P 500 was marked 4 points, or 0.08% higher in the opening minutes of trading, with the Nasdaq gained 70 points, or 0.36%.

The Dow was marked 117 points lower while the mid-cap Russell 2000 gained 16 points, or 0.74%

Benchmark 2-year note yields were marked 1 basis point higher on the session at 4.332% while 10-year notes rose 1 basis point to 4.546%

Updated at 8:42 AM EST

Private changing room

Nordstrom  (JWN)  shares edged lower in early trading after the struggling department store chain agreed to a $6.25 billion buyout from Mexico-based conglomerate El Puerto de Liverpool and other Nordstrom family members.

The deal price, however, was pegged at $24.25 per share, around 28 cents below Friday's closing price, although it does include a special dividend of 25 cents per share.

Once completed, Nordstrom will de-list from all public markets and operate as a privately-owned company.

"For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best," said CEO Erik Nordstrom. "Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future."

Nordstrom shares were marked 1.6% lower in premarket trading to indicate an opening bell price of $24.14 each.

Updated at 7:43 AM EST

Sleeping arrangement

Eli Lilly  (LLY)  shares jumped in early trading after the U.S. Food and Drug Administration approved its weight-loss treatment for sleep apnea patients.