U.S. stock index futures are pointing to a lower open following on losses in Asia and Europe overnight. Wall Street will shift its attention to Washington as Federal Reserve Chair Janet Yellen heads back to Capitol Hill to deliver remarks before the Senate Banking Committee. Shares of JCPenney are also in focus after the struggling department store chain posted a narrower than expected loss and issued a forecast for 2014 that it may be stabilizing. TheStreet’s Jim Cramer says he’d be a buyer of Starbucks’ shares. TheStreet’s Ruben Ramirez has details from the Nasdaq MarketSite in New York.
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