The U.S. Commerce Department released wholesale inventories on Tuesday. Wholesale inventories in the U.S. fell 0.1% in December, missing expectations for a 0.2 decline, after a 0.4% decrease in November. November's figure was revised down from a 0.3% decline.

The decline was driven by a fall in inventories of durable goods. Inventories of non-durable goods increased 0.1% in December, while inventories of durable goods fell 0.3%.

Wholesale sales slid 0.3% in December, after a 1.3% fall in November.