Meanwhile, President Barack Obama is scheduled to speak in Detroit, following a visit to the city's Daimler plant.
Investors will be watching for any clues from the President on the progress of the "fiscal cliff." On Sunday, Obama met with Republican Speaker of the House of Representatives John Boehner, but the two sides didn't provide further details about the previously unannounced meeting.
Apple slid after Jefferies slashed its price target on the iPhone maker to $800 from $900. The tech giant suffered its worst weekly decline since May 2010 and is trading down more than 20 percent from its all-time high of $705 a share in September.
McDonald's rose after the fast-food giant posted a stronger-than-expected gain in November same-store sales.
Ingersoll-Rand gained after the diversified manufacturer said it will spin off its security division and buy back $2 billion of shares. In addition, the company boosted its quarterly dividend to 21 cents a share.
American International Group dipped after it agreed to sell nearly all of its ILFC airplane leasing business to a Chinese consortium for up to $4.8 billion.
Among earnings, Teavana is scheduled to post earnings after the closing bell. The specialty tea retailer was recently acquired by coffeehouse giant Starbucks.
