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Midday Report: Consumer Confidence Reaches 15-Year High; U.S. Stocks Fall

Stocks were mostly lower as investors hit pause ahead of a widely anticipated speech from President Trump to Congress.

Stocks were mostly lower as investors hit pause ahead of a widely anticipated speech from President Trump to Congress. So far, his comments on his tax plans, health care reform and infrastructure spending details have been vague. Consumer confidence hit its best level in 15 years in February, according to the latest reading from the Conference Board. The measure rose to a reading of 114.8, above analysts' estimates. Priceline (PCLN) rose after a better-than-expected fourth quarter. Adjusted earnings exceeded estimates, while sales jumped 21%. However, first-quarter earnings guidance did fall short of consensus.  Valeant Pharmaceuticals (VRX) slumped after reporting a wider loss over its recent quarter. Revenue also declined, falling 13%, though edged past estimates.

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