$Nasdaq Composite Index (.IXIC.US)$Retail sales unexpectedly rose 0.3% in August tonight. But do you feel that the market sentiment has been digested by the CPI the day before yesterday? Consumer spending accounts for nearly 70 per cent of US economic activity, and Americans can basically remain resilient even as inflation approaches a 40-year high, economic uncertainty increases and mortgage or loan costs soar. However, overall spending has slowed and is increasingly turning to necessities such as food, away from electronics, furniture, new clothes and other non-essential items. In recent months, American shopping has shifted from physical goods to travel, hotel accommodation and air travel.