Much simpler and more efficient version (only one round-trip to the SQL server).
If you wanted to update the table with the current state, the valueList could be used to form a MERGE statement.


# Get all services to a list of VALUEs for insert
# -join ensures each row is separated with "comma, carriage return" except for the last one
$valueList = (Get-Service | ForEach-Object { "( '$($_.Status)', '$($_.Name)', '$($_.DisplayName)')" }) -join ",`n"
$insertquery=@"
INSERT INTO [dbo].[ServiceTable]
    ([Status]
    ,[Name]
    ,[DisplayName])
  VALUES
$valueList
"@
Invoke-SQLcmd -ServerInstance 'KILIKOOD-PC\MSSQLSERVER,1433' -query $insertQuery -U sa -P test123 -Database Fantasy