The U.S. Commerce Department released the business inventories data on Tuesday. The U.S. business inventories rose 0.3% in February, missing expectations for a 0.2% increase, after a flat reading in January. December's figure was revised up from a 0.1% rise.

The increase was driven by a rise in retail inventories. Retail inventories climbed 0.4% in February.

Business sales remained unchanged in February.

The business inventories/sales ratio remained unchanged at 1.36 months in February. The business inventories /sales ratio is a measure of how long it would take to clear shelves.