SQUAWK BOX, FRIDAY 7TH MAY, 2021

The Dow hits an all-time high – jumping 300 points - as U.S. jobless claims beat expectations. Markets now turn to the Non-farm Payrolls due today. Central banks are in focus as the Federal Reserve believes that asset prices in stock markets are over-valued and pose a threat to the financial system. Meanwhile, the Bank of England hikes the UK GDP outlook for 2021 by 7.25 per cent. BoE Governor Andrew Bailey tells CNBC that inflation ahead could be ‘bumpy,’ but so far there was no cause for alarm in the medium term. Still in Britain, we are live in Edinburgh while awaiting crucial parliamentary, regional and local elections from across the country. China’s recovery continues with imports and exports seeing a strong rise in April. And pharmaceutical stocks are mixed after German Chancellor Angela Merkel denies waiving IP rights for Covid vaccines while U.S. President continues pushing in the opposite direction.