Dow Jones Industrial Average Futures Lower After Record Week

Dow Jones Industrial Average (DJIA) futures are below fair value, pointing to a pullback for stocks, after last week ended with four major indexes at fresh record highs yet again. With no major economic reports on the docket, traders are largely responding to concerns this week's Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna may not result in a satisfactory production cut agreement, digesting mixed comments from major producers. At last check, however, January-dated crude oil was 1.2% higher at $46.62 per barrel. Meanwhile, holiday shoppers will today turn their attention online, as Cyber Monday deals kick off.

Continue reading for more on today's market, including: 

• The Carl Icahn move that sent call buyers rushing to this mining stock.
• Options traders were active ahead of big weekends for Amazon.com, Inc. (NASDAQ:AMZN) and Netflix, Inc. (NASDAQ:NFLX).
• 2 drugmakers slapped by analysts.
• Plus... Merck gets an FDA nod, Wells Fargo looks to spend more time in court, and Boeing could be in hot water.

Futures on the Dow Jones Industrial Average (DJIA) are 29 points below fair value.

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 420,124 call contracts traded in Friday's shortened session, compared to 257,802 put contracts. The resultant single-session equity put/call ratio edged up to 0.61, while the 21-day moving average slipped to 0.66.
2. Drugmaker Merck & Co., Inc. (NYSE:MRK) is set to add 0.3% at the open, after the U.S. Food and Drug Administration (FDA) granted priority review for a new use of the company's cancer drug, Keytruda. MRK has been strong on the charts this year, but put players may prefer to see a pullback for the shares.
3. It may be another day in the spotlight for Wells Fargo & Co (NYSE:WFC), which is down 0.8% ahead of the bell. The company is reportedly being sued by employees who say the company's retirement plans steered them toward expensive, underperforming mutual funds.
4. Dow component Boeing Co (NYSE:BA) could be under pressure this morning, after The Wall Street Journal reported that the World Trade Organization is expected to rule the company received illegal subsidies for the new 777X jet. Fears such a ruling will lead to future sanctions have BA stock 1% lower in pre-market trading.
5. No major economic reports are slated for release today. Fang Holdings (SFUN) and Shoe Carnival (SCVL) are among a short list of companies due to report quarterly earnings.  

Overseas Trading

Asians stocks ended mixed as oil prices dropped on concerns OPEC won't be able to solidify a deal to cut production, with the group set to meet in Vienna on Wednesday. Japan's Nikkei shed 0.1%, as the yen rose against the dollar. Meanwhile, Hong Kong's Hang Seng and China's Shanghai Composite both tacked on 0.5%, with traders anticipating next week's opening of the Hong Kong-Shenzhen trading link. Elsewhere, South Korea's Kospi edged up 0.2%.

European stocks are lower at midday. At last check, the French CAC 40 is 0.6% lower ahead of the release of third-quarter gross domestic product (GDP) data, while Germany's DAX is down 0.7%, and London's FTSE 100 has dropped 0.3%.

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