Dow Inches Closer to 20,000; FedEx Shares Drop on Lackluster Quarter

The Dow Jones Industrial Average inched closer to 20,000 on Wednesday.
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The Dow Jones Industrial Average inched closer to the 20,000 mark on Wednesday. All eyes are on the blue chip index to see if it eclipses the psychologically important level.

Meanwhile, Nike (NKE) - Get Report shares rose after the company beat quarterly earnings and revenue estimates. For its most recent quarter, Nike, which has been the worst-performing Dow component this year, earned 50 cents a share, topping estimates by 7 cents. Revenue rose 6% year over year to $8.18 billion, while analysts were looking for $8.09 billion.

FedEx (FDX) - Get Report shares slipped after the company posted adjusted earnings of $2.80 a share, missing estimates of $2.90. Revenue of $14.93 billion inched past forecasts of $14.91 billion. Operating expenses surged 22% to $13.8 billion. TheStreet's Scott Gamm reports from Wall Street.