Finally, the September CPI report is also due out this Thursday. Economists expect the CPI index to rise 2.3% year-over-year in September, down from 2.5% in August. Bank of America analysts note that an upside surprise in last month's inflation reading has the potential to send stocks on a roller coaster this week.

Stocks are heading into the week on a down note, with inflation data, oil prices and Treasury yields in sharp focus.

"We can't rule out 'higher for longer' making a comeback this winter," Yardeni Research said of the strong jobs report and recent jump in rates.

U.S. stocks are slipping Monday after Treasury yields hit their highest levels since the summer. The S&P 500 was down 0.6% in afternoon trading, though it’s still close to its all-time high set a week ago.

U.S. stocks are slipping as pressure rises from the bond market after Treasury yields hit their highest levels since the summer. The S&P 500 fell 0.3% in early Monday trading,

The Dow pulled back on Monday morning, pressured by a sharp rise in Treasury bond yields, which surged to their highest levels in two months. Escalating tensions in the Middle East added further uncertainty,