Stocks rose slightly Monday as Wall Street traded off a losing week. The Dow Jones Industrial Average added more than 40 points, while the S&P 500 Index and Nasdaq Composite rose by roughly 0.4% each.

Here's how the market settled on Monday:

S&P 500 Index (SPY  ): +0.40% or +17.38 points to 4,337.44

Dow Jones Industrial Average (DIA  ): +0.13% or +43.04 points to 34,006.88

Nasdaq Composite Index (QQQ  ): +0.45% or +59.51 points to 13,271.32

Market participants are looking for direction heading towards the end of the month amid the Federal Reserve signaling higher-for-longer rates in 2024 and a potential U.S. government shutdown as Congress has yet to pass a budget resolution in Washington.

Moody's Investors Service warned on Monday that a U.S. government shutdown would cause a "credit negative" event for the country. The credit rating firm -- which currently has a AAA rating on the U.S. government -- said a shutdown "would demonstrate the significant constraints that intensifying political polarization put on fiscal policymaking at a time of declining fiscal strength."

The nation's current federal spending laws are set to expire on Sept. 30.

Elsewhere on Monday, media stocks including Disney (DIS  ), Paramount (PARA  ) and Warner Bros. Discovery (WBD  ) all rose on Monday after the Writers Guild of America and Hollywood studios reached a tentative deal to end the writer's strike over the weekend.

"What we have won in this contract - most particularly, everything we have gained since May 2nd - is due to the willingness of this membership to exercise its power, to demonstrate its solidarity, to walk side-by-side, to endure the pain and uncertainty of the past 146 days," the WGA negotiation committee wrote in a letter to members Sunday, quoted by CNBC.

Apple (AAPL  ) shares rose higher after Morgan Stanley reported that early demand for the next generation iPhone appears to be strong.

"As of Friday, Sept 22nd, lead times for all iPhone 15 models are ahead of the iPhone 14 cycle, with Pro/Pro Max lead times at new records. We're encouraged by these early data points, but the next 2 weeks will be critical in determining the directionality of the cycle & Dec Q iPhone builds/revenue," analyst Erik Woodring said in a note to clients on Sunday.

Amazon (AMZN  ) announced Monday it will invest up to $4 billion in AI startup Anthropic and take a minority stake in the company. The startup will provide Amazon Web Services (AWS) customers with early access to features for model customization and other capabilities.

For Tuesday, traders will continue to monitor developments out of Washington over the federal government's negotiations. Tomorrow's session will also react to fresh economic data on new home sales and consumer confidence for August, as well as Costco's (COST  ) quarterly earnings report after closing bell.