S&P notches slight gain

Stocks ENDED LITTLE CHANGED Thursday, snapping back from earlier losses. Pulling the S&P and Nasdaq into positive territory: the World Health Organization's comment that it's a "bit too early" to declare the virus a global health emergency. But news about the coronavirus outbreak spreading from China and mixed earnings results capped the gains. The S&P and Nasdaq added more than a tenth percent.

But Newton Advisors technical analyst Mark Newton is bearish about the market's near-term prospects:

SOUNDBITE: NEWTON ADVISORS TECHNICAL ANALYST MARK NEWTON (ENGLISH) SAYING:

"I'm expecting in the next three to five days stocks actually can have the chance of peaking out so I'm not all that optimistic. I think thing shave gone a little too bit too far too quickly."

On Wall Street, shares of Dow component P&G declined. The consumer products maker's quarterly sales fell short of analysts' expectations for the first time in five quarters.

The biggest drag on the blue chip index: Travelers. The insurer's shares dropped even though profit rose and topped Wall Street's targets.

Netflix shares bounced back sharply. Guggenheim raised its price target on the streaming video company.