A patent trial between Apple and Samsung is set to kick off in the U.S. with billions at stake. The jury selection is scheduled to start today. Separately, according to unconfirmed reports, Apple will hold an event on Sept. 12 to unveil the iPhone 5 and the iPad mini.

Deutsche Bank downgraded Dow component JPMorgan to "hold" from "buy."

Boeing said the National Transportation Safety Board is investigating a potential problem with an engine on a 787 Dreamliner on the heels of an incident in in South Carolina during a preflight test over the weekend.

Chevron said itplans to invest $2 billion to develop its Lianzi oilfield straddling the maritime border between Republic of Congo and Angola.

On the M&A front, engineering company Chicago Bridge & Iron said it would acquire Shaw Group in a deal worth nearly $3 billion . Shaw would continue as a business segment branded as CB&I Shaw.

Earnings season continues this week, but no Dow components are due to report on Monday. Dow component Pfizer, Kraft and P&G are scheduled to post throughout the week along with other notable firms including Comcast, General Motors, LinkedIn and Berkshire Hathaway. (Comcast is the parent company of NBCUniversal and CNBC.)