S&P, Nasdaq flat in choppy trading as oil pares gains

Oil was lower after jumping 7 percent on Wednesday as the dollar weakened after weak U.S. data signaled that the U.S. Federal Reserve will hold off from raising rates this year. UBS cut its year-end target for the S&P 500 index to 2,175 points from 2,275 on Thursday and trimmed its earnings estimate for S&P 500 companies to $119 from $126 on weaker U.S. growth prospects.