* Futures down: Dow 63 pts, S&P 7.25 pts, Nasdaq 12 pts
By Tanya Agrawal
Nov 28 (Reuters) - U.S. stock index futures pulled back on
Monday, after the three major indexes extended their
post-election rally and closed at record highs.
* The three indexes closed higher for three weeks in a row,
with the S&P 500 notching its seventh record close since Nov. 8.
* Oil prices were lower in choppy trading as the market
grappled over the shaky prospect of OPEC producers being able to
agree output cuts at a meeting on Wednesday aimed at reining in
* European shares were pressured by the drop in oil prices.
Investors also awaited a referendum on constitutional reform in
Italy on Sunday.
* The dollar index extended its losses on Monday,
retreating from its highest levels since 2003, as U.S. Treasury
yields eased from recent peaks.
* The dollar had been on a tear on expectations that
President-elect Donald Trump's infrastructure spending plans
will boost inflation as well as a high likelihood of an interest
rate hike in December.
* The U.S. Federal Reserve will next meet on Dec. 13-14,
with traders pricing in an 89 percent chance of a hike.
* "An air of caution swept across the financial markets as
doubts of a successful OPEC deal weigh heavily on global
sentiment," said Lukman Otunuga, research analyst at FXTM.
* "Although Wall Street concluded last week near historical
highs, losses could be realized if Asia's and Europe's bearish
contagion contaminate American shares."
* ConocoPhillips was up 1.1 percent at $46.24 in
premarket trading after Goldman Sachs raised its price target on
* Amazon was down 0.3 percent at $778 after
Citigroup reduced its price target on the stock.
Futures snapshot at 7:04 a.m. (1204 GMT):
* S&P 500 e-minis were down 7.25 points, or 0.33
percent, with 131,071 contracts changing hands.
* Nasdaq 100 e-minis were down 12 points, or 0.25
percent, in volume of 19,074 contracts.
* Dow e-minis were down 63 points, or 0.33 percent,
with 28,265 contracts changing hands.
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)