NEW YORK -
Stock index futures were mixed on Monday as investors faced a busy week of corporate earnings results, while Apple fell on concerns of decreased demand.
Shares of Apple slid more than 3 percent in premarket trade after a report that the tech giant has cut orders for LCD screens and other parts for the iPhone 5 this quarter due to weak demand. The stock was down 3.5 percent at $502.02.
Earnings season picks up the pace this week with reports expected from companies including Goldman Sachs
S&P 500 futures fell 0.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 3 points, and Nasdaq 100 futures fell 9.25 points.
United Parcel Service Inc
The U.S. economy is expected to grow by 2.5 percent in 2013, improving to 3.5 percent growth in 2014, top Fed official Charles Evans said on Monday.
Investors will also be watching a speech from Federal Reserve Chairman, Ben Bernanke, who will be speaking on monetary policy , recovery from the global financial crisis and long-term challenges facing the American economy at 4 p.m. (2100 GMT)
(Reporting by Leah Schnurr; Editing by Theodore d'Afflisio)