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Wall Street set to open lower ahead of July factory activity data

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By Devik Jain and Aniruddha Ghosh (Reuters) -U.S. stock indexes were set to open lower on Monday following a strong rally last week on earnings optimism, with investors awaiting a factory activity data after similar surveys from China and the Eurozone fueled recession worries. The S&P 500 and the Nasdaq posted their biggest monthly percentage gains since 2020 in July on stronger-than-expected second-quarter results and on hopes the Federal Reserve need not to be as aggressive with interest rate hikes as some had feared. The upbeat mood faded on Monday as surveys showed factories across Asia an…

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