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NEW YORK, Aug 15 (Reuters) – U.S. stocks rose for a third day on Monday as investors bought shares whose prices have been beaten down in recent weeks and as news of U.S. deals lifted sentiment.  Weeks of volatility have battered the S&P 500, which is down 12.6 percent since its April 29 highs.

While the overall trend should remain lower, levels of volume, volatility, breadth and sentiment were signaling a bounce, said John Kosar, director of research at Asbury Research in Chicago.  “Until those extremes get unwound, the market is likely to carry a bid for the near terms,” Kosar said.