Stocks snapped their three-day losing streak Wednesday after a Bloomberg report said a phase one deal could still be done before the Dec. 15 tariff deadline.

President Trump’s comments Tuesday, which downplayed the possibility of a trade deal being reached in the next couple of weeks and sent U.S. equity markets tumbling, were “off the cuff” and should not be taken as a sign that talks are at an impasse, according to the report, which cites people familiar with the matter.

Economic data out Wednesday morning showed private sector job growth slowed in November. The ADP Private National Employment Report showed private payrolls increased by 67,000 jobs last month, missing the 140,000 addition that was expected and down sharply from the 121,000 jobs added in October.

All three of the major averages finished higher with the Dow Jones Industrial Average up 147.85 points, or 0.5 percent. The S&P 500 and Nasdaq were higher by 0.6 percent and 0.5 percent, respectively. Read more at FOX Business