Stock Market Update

[BRIEFING.COM] The stock market opened to losses at the index level. The S&P 500 trades 0.3% lower and the Nasdaq Composite sports a 0.6% decline. Market breadth is positive, though, reflecting buying interest in some pockets of the market. 

Advancers have a 3-to-2 lead over decliners at the NYSE and a 4-to-3 lead at the Nasdaq. 

A big earnings-related decline in Alphabet (GOOG 191.57, -16.14, -7.8%), which didn't live up to high expectations, has contributed to the index declines. Apple (AAPL 229.95, -2.87, -1.2%) is another influential loser on a Bloomberg report that China is considering a probe into its App Store fees and policies.

Semiconductor stocks are another weak spot in the market after earnings results from Advanced Micro Devices (AMD 108.69, -11.81, -9.8%).

The ISM Services PMI dropped to 52.8% in January (Briefing.com consensus 53.9%) from 54% in December.