US STOCKS-S&P 500, Dow set to snap six-day run; stimulus in focus

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* NYSE FANG+TM index hits record high
* Coty drops as demand for makeup products dwindles
* Take-Two tumbles as quarterly sales fall
* Indexes: Dow down 0.08%, S&P dips 0.12%, Nasdaq up 0.20%

(Adds quote, details; updates prices)
By Medha Singh and Devik Jain
Feb 9 (Reuters) - The Dow and the S&P 500 pulled back
slightly on Tuesday after a six-day run, with investors closely
tracking progress in passing a proposed $1.9 trillion stimulus
plan.
The tech-heavy Nasdaq, on the other hand, hit an all-time
high for the fifth consecutive session, supported by gains in
Apple Inc AAPL.O and Netflix Inc NFLX.O .
The NYSE FANG+TM index .NYFANG , which includes the core
FAANG group of stocks, rose 1.4% to an all-time high.
Largely upbeat corporate earnings so far along with monetary
and fiscal support have powered the major U.S. stock indexes to
record highs but analysts have cautioned against risks from new
coronavirus variants and any glitches in vaccine rollouts.
"A six-day winning streak will give any reasonable investor
a reason to pause," said William Herrmann, co-founder and
managing partner at Wilshire Phoenix in New York City.
"But the backdrop is largely positive for stocks and I'm not
sure there could be a better backdrop for risk assets in the
near to intermediate term with monetary and fiscal stimulus and
then the hope that the vaccine rollout goes out as planned."
The energy sector .SPNY , among the sectors that led the
recent rally, shed nearly 2%, while communication services
.SPLRCL added about 0.4%.
Last week's data showing slower-than-expected growth in the
labor market underscored the need for more government aid to
blunt the effects of the COVID-19 pandemic.
Democrats in the U.S. Senate continue to try to find a way
to include a minimum wage increase in a comprehensive COVID-19
relief bill they aim to advance in the coming weeks, Senate
Majority Leader Chuck Schumer said on Tuesday. At 11:43 a.m. ET, the Dow Jones Industrial Average .DJI
fell 25.58 points, or 0.08%, to 31,360.18 and the S&P 500 .SPX
lost 4.70 points, or 0.12%, to 3,910.89. The Nasdaq Composite
.IXIC gained 28.65 points, or 0.20%, to 14,016.30.
The banking index .SPXBK shed about 0.4%, tracking a fall
in U.S. Treasury yields. US/
Toymaker Mattel Inc MAT.O rose about 1%, while telephone
equipment maker Cisco Systems Inc CSCO.O slipped 0.8% ahead of
their earnings after market close.
Analysts see fourth-quarter S&P earnings to gain 2.5%, a
stark reversal from the 10.3% annual decline seen at the
beginning of the year, per Refinitiv.
Gucci lipstick maker Coty Inc COTY.N tumbled 17% as weak
demand for makeup products wiped off millions off its quarterly
revenue. Take-Two Interactive Software Inc TTWO.O fell about 6%
after the videogame publisher posted a drop in quarterly
adjusted sales and shied away from announcing any new big
releases. Bitcoin BTC=BTSP fast approached the $50,000-mark as the
afterglow of Elon Musk-led Tesla's TSLA.O investment in the
cryptocurrency had investors reckoning it may become a
mainstream asset class for both corporations and money managers.
Cryptocurrency miner Riot Blockchain RIOT.O and Marathon
Patent Group MARA.O jumped 6% and 8%, extending their sharp
gains for the second day. Tesla's shares dropped about 2%.
Advancing issues matched decliners on the NYSE and
outnumbered decliners by a 1.1-to-1 ratio on the Nasdaq.
The S&P 500 posted 30 new 52-week highs and no new low,
while the Nasdaq recorded 498 new highs and 19 new lows.