Wall Street set to open lower as weak oil weighs

The U.S. private sector added 179,000 jobs in July, beating estimates of 170,000, the ADP national employment report showed. If the labor market is able to build on its recent strength, it could make the case for the Federal Reserve to raise interest rates later this year. "It's not as if we are retracing that massive move, we are just drifting lower here and one of the key catalysts is oil prices.