Wall Street recovered some of the loses from the previous week

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Clothing brand Guess's stock (-5.25 percent) continues to plummet after supermodel Kate Upton accused co-founder Paul Marciano of sexual misconduct.

The correction was long overdue and may last another few weeks, but there still may be room for USA stocks to rise another 10 percent to 15 percent before the end of the year, said Douglas Cohen, a managing director at Athena Capital Advisors.

The NASDAQ also lost ground, slipping 3.71 points or 0.05% at 6,972.92.

The market is coming off two weeks of steep losses that put stocks into a "correction" — a decline of 10 percent from a peak — for the first time in two years.

CSRA Inc (NYSE:CSRA), a provider of information technology services to the U.S. government, opened sharply higher, up nearly a third at US$40.49 after its board gave the green light to a takeover by General Dynamics Corp (NYSE:GD) worth US$40.75 a share. The Nasdaq composite gained 118 points, or 1.7 percent, to 6,992.

Technology companies and banks, some of the biggest winners on the market over the past year, are up the most.

Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors focused on inflation data on Wednesday that could upset the market's fragile recovery - or clear the way for additional gains. USA crude traded at around $60.14, while Brent futures were around $63.64.

Bond prices didn't move much.

Nine of the 11 major S&P indexes rose, led by real estate.SPLRCR, up 0.54 percent.

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ENERGY: Benchmark U.S. crude gained 67 cents, or 1.1 per cent, to $59.87 a barrel in NY. The S&P 500 energy index is down 12 per cent over the last month. Disney agreed to buy Fox's movie and television studios and some cable and global TV businesses in December for $52.4 billion.

Hess added 42 cents, or 1 per cent, to $42.54 and Occidental Petroleum picked up $1.34, or 2 per cent, to $69.52.

Comcast stock slipped 3 cents to $38.54 while Disney added 30 cents to $103.39. Chipmaker Applied Materials climbed $1.42, or 3 percent, to $49.50.

Stronger-than-expected consumer inflation could be bearish for stocks if the news drives the benchmark 10-year Treasury Note through 2.885%.

High dividend companies continued to struggle.

The gold prices rose because of the depreciation of the dollar. Inflation in particular will be of interest as it could affect expectations of more rate increases the Federal Reserve.

USA stocks have been under pressure since a strong jobs report on Feb 2 sparked fears the Federal Reserve will accelerate the pace of interest rate hikes to stave off inflation.

OVERSEAS: Germany's DAX jumped 1.6 per cent while the CAC 40 in France advanced 1.3 per cent.

Hong Kong's Hang Seng lost 0.2 percent, and Seoul's Kospi rose 0.9 percent.

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