S&P 500 Moves: Health Insurers Slide as Elevance Disappoints

$S&P 500 Index (.SPX.US)$ ended Thursday down slightly, less than 0.1%, after a mixed session. Health insurers dragged the index down, while AI chip stocks surged. Here's a breakdown:

Health Insurers: Shares fell as $Elevance Health (ELV.US)$ missed quarterly profit estimates, citing declining Medicaid enrollments. Elevance dropped 10.6%, dragging down Molina Healthcare (down 12.6%) and Centene (down 9.1%).

$The Travelers Companies (TRV.US)$: Despite high catastrophe losses, Travelers gained 9.0% on strong results driven by higher premiums and investment income.

Snap-On: The tools company posted solid earnings, driving its stock up 10.0%, the biggest gain in the S&P 500.

$Blackstone (BX.US)$ : Shares rose 6.3% after better-than-expected profits and strong asset growth.

$Taiwan Semiconductor (TSM.US)$ : Optimism in the AI chip sector grew following strong earnings from TSMC, helping balance out the overall market.