Stock index futures pointed to a sharp fall in share prices on Tuesday after equities on Wall Street recorded their biggest fall in about a month in the previous session as concerns grew that the euro zone debt crisis could engulf other countries.

* Futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 were down 1.1 to 1.2 percent.

* Peabody Energy and ArcelorMittal are likely to succeed with their $5 billion takeover offer for Macarthur Coal , investors bet on Tuesday, driving up shares in the world's biggest producer of pulverized coal by 37 percent.

* Euro zone finance ministers on Monday promised cheaper loans, longer maturities and a more flexible rescue fund to help Greece and other EU debtors in a bid to stop financial contagion engulfing Italy and Spain, but there are fears the rescue effort is unraveling. They will continue their meeting on Tuesday.

* As many as six Spanish banks have failed the European stress tests, including five savings banks and one medium-sized bank, ABC newspaper reported on Tuesday, citing unnamed sources.

* President Barack Obama and congressional leaders, struggling to break an impasse over taxes and spending cuts, will regroup on Tuesday to seek common ground for a deal to avoid a looming U.S. debt default.

Obama and top lawmakers from both political parties will hold their third meeting in as many days at the White House at 3:45 p.m. (1945 GMT) to hammer out elements of legislation to reduce the U.S. deficit and raise the debt ceiling by August 2.

* ICSC/Goldman Sachs will release at 1145 GMT chain store sales for the week ended July 9 versus the prior week. In the previous week, sales rose 1.5 percent.

* Alcoa Inc shares were up 1 percent after the bell on Monday as America's biggest aluminum producer posted a big jump in second-quarter profit, matching Wall Street estimates, partly due to soaring prices for the metal and alumina, its raw material.

* The Commerce Department releases May international trade figures at 1230 GMT. Economists forecast a $44.0 billion deficit compared with a $43.7 billion deficit in April.

* Allegations that former British prime minister Gordon Brown was a target of illegal data gathering by Rupert Murdoch's newspapers piled pressure on the media baron as he tried to prevent investors pulling out of his News Corp empire.

* At 1255 GMT, Redbook releases its Retail Sales Index of department and chain store sales for July versus June. In the prior period, sales were up 0.9 percent.

* The Federal Open Market Committee releases minutes from its June 21-22 meeting.

* Resource-related stocks will be in focus as crude oil fell for a third day on concerns about energy demand growth. Key base metals prices also dropped.

* The FTSEurofirst 300 <.FTEU3> index of top European shares is down 2 percent after falling 1.5 percent in the previous session on renewed worries about the euro zone peripheral debt crisis. Japan's Nikkei average <.N225> lost 1.4 percent in its biggest fall in a month.

* On Monday, the Dow Jones industrial average <.DJI> was down 151.44 points, or 1.20 percent, at 12,505.76 at the close. The Standard & Poor's 500 Index <.SPX> was down 24.31 points, or 1.81 percent, at 1,319.49. The Nasdaq Composite Index <.IXIC> was down 57.19 points, or 2.00 percent, at 2,802.62.

(Reporting by Atul Prakash; Editing by Erica Billingham)