Stock futures fall after Argentina default, data awaited

U.S. stock index futures were sharply lower on Thursday, after Argentina defaulted for the second time in 12 years, raising concerns the country's weakness could spread to the region. A big market decline would mean that all three major U.S. indexes may lose their gains for July, which had been set to be the sixth positive month for both the Dow and S&P 500. * Investors had hoped for a midnight deal with holdout creditors in Argentina, but the plan fell through. Dow Jones industrial average e-mini futures fell 85 points and Nasdaq 100 e-mini futures lost 25.25 points.

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