Xcode – brew in not working for me OSX 10.7

I have installed xcode 4.3 and its running but when I do brew install wget. I get

    ==> Downloading http://ftpmirror.gnu.org/wget/wget-1.13.4.tar.bz2
    ######################################################################## 100.0%
    ==> ./configure --disable-debug --prefix=/usr/local/Cellar/wget/1.13.4 --sysconfdir=/usr/local/etc --with-ssl=openssl --disable
    configure: configuring for GNU Wget 1.13.4
    checking for a BSD-compatible install... /usr/bin/install -c
    checking whether build environment is sane... yes
    checking for a thread-safe mkdir -p... build-aux/install-sh -c -d
    checking for gawk... no
    checking for mawk... no
    checking for nawk... no
    checking for awk... awk
    checking whether make sets $(MAKE)... yes
    checking build system type... x86_64-apple-darwin11.3.0
    checking host system type... x86_64-apple-darwin11.3.0
    checking for gcc... /Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/clang
    checking whether the C compiler works... no
    configure: error: in `/private/tmp/homebrew-wget-1.13.4-PMov/wget-1.13.4':
    configure: error: C compiler cannot create executables
    See `config.log' for more details
    ==> Exit Status: 77
    http://github.com/mxcl/homebrew/blob/master/Library/Formula/wget.rb#L24
    ==> Environment
    HOMEBREW_VERSION: 0.8.1
    HEAD: (none)
    HOMEBREW_PREFIX: /usr/local
    HOMEBREW_CELLAR: /usr/local/Cellar
    Hardware: quad-core 64-bit sandybridge
    OS X: 10.7.3
    Kernel Architecture: x86_64
    Xcode: 3.2.2
    GCC-4.0: N/A
    GCC-4.2: N/A
    LLVM: build 2336
    Clang: N/A
    MacPorts or Fink? false
    X11: /usr/X11
    System Ruby: 1.8.7-249
    /usr/bin/ruby => /Sy
    /usr/bin/ruby => /System/Library/Frameworks/Ruby.framework/Versions/1.8/usr/bin/ruby
    Which Perl:   /usr/bin/perl
    Which Python: /usr/bin/python
    Which Ruby:   /usr/bin/ruby => /System/Library/Frameworks/Ruby.framework/Versions/1.8/usr/bin/ruby
    ==> Build Flags
    CC: /Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/clang
    CXX: /Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/clang++ => /Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/clang
    LD: /Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/clang
    CFLAGS: -Os -w -pipe -march=native -Qunused-arguments
    CXXFLAGS: -Os -w -pipe -march=native -Qunused-arguments
    MAKEFLAGS: -j4

    Error: Failed executing: ./configure --disable-debug --prefix=/usr/local/Cellar/wget/1.13.4 --sysconfdir=/usr/local/etc --with-ssl=openssl --disable-iri
    If `brew doctor' does not help diagnose the issue, please report the bug:
        https://github.com/mxcl/homebrew/wiki/checklist-before-filing-a-new-issue
    We saved the configure log, please gist it if you report the issue:
        ~/Library/Logs/Homebrew/config.log

Please help me to fix this. I have installed the new OS and xcode 4.3.