Wall Street ends first day of 2012 with gains

Investors, hoping for something better than 2011's flat stock market, pushed shares higher on Tuesday to begin the new year, though questions remain about whether a rally can be sustained.

Based on the latest available data, the Dow Jones industrial averagewas up 176.87 points, or 1.45 percent, at 12,394.43. The Standard & Poor's 500 Index was up 19.18 points, or 1.53 percent, at 1,276.78. The Nasdaq Composite Index was up 43.20 points, or 1.66 percent, at 2,648.35.