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Not within the Gmail web client. I would recommend creating a Google Doc, pasting the contents of the message into it and marking it up there. You could then take the URL of the Doc and put it in a reply to that Gmail thread addressed only to you as a quick way of referencing it in Gmail. If a group of people are collaborating on this content, using a ...
Not with Gmail all by itself. You can't edit messages once sent/received. At best, you can forward the email message to yourself with the text highlighting you want. Otherwise, you'll need to look for a third-party solution.
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