Positive developments in Covid-19 treatment lift stocks

US STOCKS rose last week in stormy trade, as hopes for a coronavirus treatment eased fears about the course of American efforts to reopen the economy.

The volatility is likely to continue this week as the Covid-19 crisis is likely to worsen in ''sun-belt'' states and as banks begin to report the toll taken on their US customers by the so-called ''Pancession''.

Hospital systems in the most populous states of California, Texas and Florida are nearly overwhelmed by the spike in cases. Federal emergency medical teams are already on their way to assist at the busiest Dallas emergency room.