IN THE NEWS TODAY
Hundreds of thousands of demonstrators are expected to take to the streets today in massive May Day worker events across the U.S., mostly protesting the policies of President Donald Trump. (USA Today)
White House Chief of Staff Reince Priebus said the Trump administration's push to overhaul tax laws may target a loophole used by some financial managers. Meanwhile, Vice President Mike Pence said Trump's tax plan could increase the deficit in the short term. (Reuters & News)
Commerce Secretary Wilbur Ross joins CNBC's "Squawk on the Street" at 10:30 a.m. ET. And then, Treasury Secretary Steven Mnuchin joins "Squawk Alley" at 11:30 a.m. ET.
GOP leaders and the White House are increasingly confident about passing their Obamacare replacement bill. But the window for quick action may be closing, with the House leaving for a one-week recess Thursday. (Politico)
Trump, in a weekend interview, labeled North Korean dictator Kim Jong Un "a pretty smart cookie," because he was able to "assume power" even though others were trying to thwart him. (NBC News)
North Korea today suggested it'll continue nuclear weapons tests, saying the nation plans to bolster its nuclear force "to the maximum," in the face of what it calls U.S. aggression and hysteria. (Reuters)
Elon Musk's SpaceX this morning successfully launched a Falcon 9 rocket with a classified payload for the U.S. National Reconnaissance Office. The Sunday takeoff attempt was scrubbed due to a sensor issue. (USA Today)
At least 14 people have been killed by tornadoes or flooding in the South and Midwest by a storm that also dumped a rare late-season blizzard in western Kansas on Sunday. (USA Today)
Embattled Valeant (VRX) has made $220 million in unscheduled payments in the drugmaker's latest effort to reduce its multibillion-dollar debt. Valeant shares have lost about 96 percent of their 2015 peak. (WSJ)
Starting on Sept. 9, NBCUniversal will turn one of its smallest cable properties, Sprout, into a network called Universal Kids, kind of like its own Disney channel. (NY Times)
Twitter (TWTR) is partnering with Bloomberg Media for a round-the-clock streaming television news service on the social networking platform. Separately, Twitter CEO Jack Dorsey bought 574,000 more shares of the social network, according to an SEC filing. (WSJ))
Twenty-First Century Fox (FOXA), with Blackstone (BX), are interested in bidding for TV stations group. Tribune Media (TRCO). Sinclair (SBGI) and Nexstar (NXST) are said to be bidding. (WSJ)