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Summary
Stocks are higher at midday on Friday, with the major indices uniformly in the green. The current mood likely is based in part on a ‘buy the dip’ response after Thursday’s major decline. As well, the latest inflation data showed a decline in prices as the headline PCE data came in at 2.5% on an annual basis for January, in line with forecasts and lower than the prior month’s 2.6%. On the flipside, U.S. consumer spending unexpectedly fell in