Wall St. set to open higher as upbeat Chinese data eases growth worries

- U.S. stocks were set to open higher on Wednesday after encouraging data from China allayed concerns of slowing global growth, with sentiment getting a boost from easing of tensions in Hong Kong following the withdrawal of a controversial bill.

A private survey showed activity in China’s services sector expanded at the fastest pace in three months in August, a boost to the world’s second-largest economy struggling to reverse a prolonged slump in its manufacturing sector. Wall Street’s three major indexes fell on Tuesday after the United States and China imposed new tariffs on each other’s goods over the weekend and on data showing weak U.S. factory activity in August.

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