The U.S. Commerce Department released wholesale inventories on Tuesday. Wholesale inventories in the U.S. rose 0.3% in January, missing expectations for a flat reading, after a flat reading in December. December's figure was revised up from a 0.1% increase.

Inventories of durable goods increased 0.6% in January, while inventories of non-durable goods fell by 0.1%.

Wholesale sales declined by 3.1% in January, the largest decline since March 2009, driven by a 4.6% fall in sales of non-durable goods.