Wall St set to open higher, helped by China market rally

Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. Chinese stock markets rose strongly after last week's sell off and as data showed growth in the country's factory sector edged up in May but export demand shrank again, reinforcing the view of the need for more stimulus. "It's the first day of the month and news out of China is bullish," said An