US STOCKS-US stocks set to open higher on consumer spending data

Wall Street was set to open higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. Investors have been keeping a sharp eye on economic data for signs of a recovery in the U.S. economy, which came to a crawl in the first quarter, as the Federal Reserve prepares to raise interest rates for the first time in almost a decade. The Commerce Department said consumer spending increased 0.9 percent las