Belvedere and Schacknow, CNBC'S Squawk Box - May 1, 2014

Compiled by L-R:  Peter Schacknow and Matthew J. Belvedere  Compiled by L-R:  Peter Schacknow and Matthew J. Belvedere  Sell in May and go away? This is why the old adage may not hold, as the Dow stands in record territory (with the S&P 500 just shy) on this first day of the month. (CNBC) James Paulsen, chief investment strategist at Wells Capital Management, looks at where stocks go from here, when he joins CNBC’s “Squawk Box” at 8 a.m. ET

While the Fed tapered again, the market liked the central bank’s upbeat view on the economy, despite recent data to the contrary. Investors will pour over today’s numbers ahead of Friday’s jobs report. (CNBC) Pimco Strategist and Portfolio Manager Tony Crescenzi helps us handicap the Fed’s 2014 end-game and beyond. He’s here at 7:30 a.m. ET.

AT&T (T) is said to have approached DirecTV (DTV) about a possible acquisition. A deal for the satellite TV company would likely be worth at least $40 billion. (WSJ)

Responding to Warren Buffett's decision to abstain in a closely-watched shareholder vote, Coca-Cola(KO) will probably revise its controversial executive pay plan. (WSJ)

Taxpayers lost $11.2 billion on the government's bailout of General Motors (GM), a new report shows.That’s up nearly a billion dollars from previous estimates. (AP)

The International Monetary Fund has signed off on a $17 billion bailout for Ukraine, as the country struggles with a stuttering economy and the escalating crisis with Russia. (CNBC)

As NBA owners discuss next steps in the removal of Donald Sterling as owner of the LA Clippers today, billionaires, entertainers, and athletes are expressing interest in buying the team. (CNBC)