Wall St set to open lower as consumer spending slows

Wall Street was set to open slightly lower on Monday as U.S. consumer spending in June recorded its smallest gain in four months, suggesting the economy lost some momentum at the end of the second quarter. Investors are also awaiting another batch of earnings reports - AIG, Allstate and General Growth Properties report after the market closes on Monday. The U.S. Commerce Department said consumer spending rose 0.2 percent after a downwardly revised 0.7 percent increase in May. Investors have been