Wall St up on bank shares

U.S. stocks kick off 2012 on a high on better-than-expected global economic reports.

The Dow Jones Industrial Average surged 179.82 points, or 1.47 per cent to end at 12,397.38

S&P 500 rallied 19.46 points, or 1.55 per cent to close at 1,277.06.

Most S&P sectors ended in the black, led by financials.

The Nasdaq added 43.57 points, or 1.67 percent, to close at 2,648.72.