Updated from 7:47 a.m.

Dow Jones Industrial Average futures moved lower on Friday, coming back from a multi-day rally, as big gains in banking stocks were put on pause. 

Dow futures were down 0.24%, S&P 500 futures fell 0.42%, and Nasdaq futures declined 0.8%. 

Banking stocks had lifted the Dow to new records as investors bet on reduced regulatory hurdles under a Donald Trump Administration. Financials including JPMorgan Chase (JPM) , Citigroup (C) and Wells Fargo (WFC) rallied over the past few days, but were pulling back in premarket trading. Banks' business operations were closed on Friday in honor of Veterans' Day, though trading remained open as normal. 

Citigroup and Wells Fargo are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells C or WFC? Learn more now.

The Dow closed at a new record on Thursday, though the Nasdaq plummeted in tumultuous trade in the wake of Tuesday's election results. Investors have stayed busy trying to gauge the types of policies president-elect Donald Trump could enact.

Crude oil prices moved lower on Friday after major oil producers showed production at record highs. The Organization of Petroleum Exporting Countries, a major oil-producing bloc, reported an increase in October output to 33.64 million barrels a day. Production rose by 240,000 barrels per day from a month earlier. The increase exacerbates problems for an already-oversupplied oil market which has struggled with low prices and weaker demand. OPEC is scheduled to meet later this month in what traders hope could result in a production freeze agreement. 

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