Wall Street edged up on Thursday, erasing early losses, as investors brushed off disappointing economic reports and bet on a further rally in the stock market.

The Dow Jones industrial average <.DJI> was up 36.25 points, or 0.29 percent, at 12,727.21. The Standard & Poor's 500 Index <.SPX> was up 2.52 points, or 0.19 percent, at 1,358.18. The Nasdaq Composite Index <.IXIC> was up 0.04 points, or 0.00 percent, at 2,869.92.

(Reporting by Angela Moon)