The Gunners dominated proceedings at a sold-out Emirates Stadium on Tuesday night but were unable to break down the division's stingiest defence as they dropped points at home for the first time this season.
Manager Arteta was unhappy that Dan Burn escaped punishment for a second-half shirt pull on Gabriel Magalhaes, while his players surrounded referee Andrew Madley in added time following a possible handball in the box by Magpies substitute Jacob Murphy.
"I'm really proud, the way we played, the way we dominated the game, the approach that we had from the beginning," said the Spaniard.
"We lacked that spark in the final third to find that opening, to find that right moment and extra pass and a little bit of finishing quality but we had a lot of situations in and around the box to do better.
"And then there were two scandalous penalties. Both of them. It is a penalty or not a penalty and they were both penalties."
Eddie Nketiah was denied a late winner by a fine save from Magpies goalkeeper Nick Pope before Granit Xhaka struck the ball against the arm of Murphy as a fractious encounter featuring nine yellow cards came to a controversial end.
The stalemate moved Arsenal eight points clear, albeit that advantage could be cut to five when Manchester City travel to Chelsea on Thursday.
It was the first time the Gunners have failed to score this season.
"We wanted to win it and we still have that in the guts that we did more than enough and it merits a different result but we didn't get it," continued Arteta.
"And when you can't win, (make sure you) draw. I think the team was on top of it, we were really chasing it, we really wanted it, you could see that the team was putting everything to take the three points.
"And we lacked that in the final third and we lacked two big decisions."
