One main, ongoing concern for investors: inflation. Investors are waiting for more corporate results to hear how inflation is impacting earnings, says Patrick Fruzzetti. He's a managing director for the Rose Advisors at Hightower.

"In the first half of the year, we heard a lot of management teams talking about the back half of the year and what was going to pressure margins. So not only in certain businesses like industrials, do you have commodity margin pressures, you also have labor margin pressures and I think we're seeing that across the board. We'll see that spillover to earnings, but ultimately guidance for 2022. And I think that's what we'll hear a lot about in this coming week and couple of weeks ahead of us."

Apple was one of the bright spots in company news. The world's most popular tech gadget maker unveiled new Mac laptops with more powerful computing power and a new model of its popular Airpod at an event on Monday. Shares of Apple rose more than one percent.

But shares of Walt Disney held back the Dow. The entertainment conglomerate's stock rating was downgraded at Barclay's, who is worried about slowing growth at the Disney+ streaming service. Shares of Disney fell 3 percent. Netflix, the leading streaming service, rose ahead of its quarterly results due on Tuesday.

On the economic front, industrial output fell by the most in seven months in September, following a drop the month before, as the global supply shortage continued to hurt auto manufacturing and crimp the overall economy.

Good news, though from the housing sector. Homebuilder sentiment rose by the most in nearly a year as buyers continue to show up despite a lack of construction supplies and rising interest rates that are driving prices higher. Zillow, however, is having trouble buying and flipping properties, so it's going to pause that business. Shares of the online real estate agent tumbled to a one-year low.