NEW YORK (TheStreet) -- Traders continued to fret over oil prices and Greece's political uncertainty on Tuesday in a quiet week with little else to divert attention.
S&P 500 futures fell 0.26%, Dow Jones Industrial Average futures were down 0.17% and Nasdaq futures tripped 0.17%.
Crude oil prices continued to fall on Tuesday with West Texas Intermediate crude at fresh five-year lows, down 0.37% to $53.41. A day earlier, the commodity had briefly moved higher as fires wiped out three oil-storage tanks at Libya's central export terminal, giving hope of a solution to global oversupply.
"The Libyan situation proved to be of only very temporary support as crude prices started to give way later in the trading day on Monday," analysts at JBC Energy said in a report.
European markets moved lower, continuing to be pressured by Greece's failed parliamentary election a day earlier. Greece will now head to a general election to vote for a president in January. International investors are nervous that the left-wing Syriza party could win, putting the country's austerity plans in jeopardy.
France's CAC 40, Germany's DAX dropped 0.65% and London's FTSE 100 were each trading lower, while the Athens Stock Exchange was down 0.27%.
In domestic economic news, home prices rose 0.76% in October, according to the S&P/Case-Shiller house price index. Economists had expected a month-on-month increase of 0.6%.
Consumer confidence data, out at 10am EST, is expected to show an increase to 93 from a prior reading of 88.7 as lower gasoline prices continue to pad out consumers' savings.
Biotherapeutic drug maker Xenoport (XNPT) spiked 13% premarket after RBC Capital analyst Michael Yee named the company an "under the radar" pick for the year ahead.
Commercial REIT American Realty Capital Properties (ARCP) jumped more than 6% as activist investor Keith Meister's Corvex Management disclosed a 7.1% stake in the company. The investment firm said the company is currently undergoing a "time of transition" that presents a unique opportunity.
-- Written by Keris Alison Lahiff in New York.