Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.5%), and DJIA (+0.4%) hold modest gains as the broader market is mostly higher shortly after the open. 

Importantly, the information technology (+0.5%), communication services (+1.0%), and consumer discretionary (+0.1%) sectors are not seeing a continuation of yesterday's slide that saw considerable losses across mega-cap names. 

Advanced Micro Devices (AMD 251.01, +0.96, +0.38%) reversed an early loss in the pre-market after topping earnings estimates, and the PHLX Semiconductor Index (+2.3%) is off to a solid start after losing 4.0% yesterday. 

Eight S&P 500 sectors hold early gains. 

The final reading of the October S&P Global U.S. Services PMI registered at 54.8, from a preliminary reading of 54.2. 

The ISM Services PMI increased to 52.4% in October (Briefing.com consensus 50.9%) from 50.0% in September.