The U.S. Commerce Department released the business inventories data on Friday. The U.S. business inventories were flat in October, missing expectations for a 0.1% rise, after a 0.1% gain in September. September's figure was revised down from a 0.3% increase.

Retail inventories climbed 0.1% in October, wholesale inventories were down 0.1%, while manufacturing inventories fell 0.1%.

Retail sales were flat in October, while business sales dropped 0.2%.

The business inventories/sales ratio climbed to 1.38 months in October from 1.37 months in September. The business inventories /sales ratio is a measure of how long it would take to clear shelves.