Shares on Wall Street climbed to a record close as investors, confident that the US economy will remain strong, continued to pour money into the market.

Consumer confidence in the US soared to a 31-year high in December, while sales of existing homes rose 6 per cent in November, according to figures released yesterday by the Conference Board and National Association of Realtors. The Dow Jones industrial average finished the day up 85.63 points, or 0.75 per cent, at 11,476.71, having passed the 11,500 mark for the first time earlier in the day. Among the biggest climbers were American Express, the financial services group, which gained $3½ to $161¾, and Hewlett Packard, the computer manufacturer, the shares of which rose $3 1/8 to finish at $111 5/16. Meanwhile, the technology-laden Nasdaq composite index lost its earlier gains in the final 20 minutes of trading and ended down 3.27 points at 3,972.11. The broader Standard & Poor_s 500 index also finished little changed, rising a mere 0.56 of a point to close at 1,457.66.