Wall St clings to hopes for budget deal, but market risks rising

NEW YORK (Reuters) - If the United States sails over the fiscal cliff in less than two weeks, it probably will not mean disaster for the stock market, investors said on Friday, but the margin for error is getting dangerously thin. At heart are fears over how long the U.S. economy, the world's largest, can hold up under the brunt of higher taxes and big spending cuts that would be triggered by the fiscal cliff. If Washington's inability to reach a deficit-reduction deal persists into late January or provokes a second credit ratings agency to strip the United States of its top triple-A rating, all bets may be off. "Clearly, if this thing drags on with no deal, eventually markets are going to start to take it on the chin," said Sandy Lincoln, chief market strategist at BMO Asset Management in Chicago, which oversees $38 billion. Stock markets fell on Friday after a Republican proposal that would have prevented tax increases on all but those earning more than $1 million unraveled amid a conservative backlash. Though President Barack Obama had vowed to veto the bill, opposition from Republicans stoked doubt about the ability of House of Representatives Speaker John Boehner to win support within his party. That suggested the two sides were too far apart to reach a deal to forestall the $600 billion in automatic tax hikes and spending cuts before they are set to begin to take effect in January. "The fact they couldn't even get the Republicans in Congress to sign on for that is disturbing. If we get into late January, early February and we are still in the soup, then the odds of going into a recession go up, and I just can't believe anybody wants that," said Jeffrey Saut, chief investment strategist at Raymond Jones Financial. HEATING UP If the new year dawns without a deal, Jack Ablin, chief investment officer at BMO Private Bank, said he would view "any incremental market sell-off as a buying opportunity." But if things remain in limbo in February, "that is going to leave a mark on the economy," he said. "The way I'd characterize it is that we're sitting in this pot of water and on January 1, Congress turns on the flame underneath. It's comfortable at first, but eventually it's going to start to hurt." Americans would start to feel the effects in their wallets. As of 2013, payroll taxes would revert to 6.2 percent of Americans' paychecks, up from the 4.2 percent level put in place during the economic downturn. Higher income tax rates would also start to hit, though that could be delayed by officials in Washington. Still, Americans would start to feel a pinch on their paychecks, which could hurt spending next year. Some investors believe holiday sales are already being affected. Another risk, said BNY Mellon currency strategist Michael Woolfolk, would be if a second ratings agency cuts the United States' AAA rating, a move that Standard & Poor's made after a similar budget standoff in 2011. Fitch Ratings said this week it would be more likely to downgrade the United States if the economy goes over the cliff. "Markets would take that very badly," Woolfolk said. "Stocks sold off by 10 percent after the S&P downgrade in 2011, and I'd expect something at least as severe" if Fitch were to act. LAST-MINUTE DEAL STILL POSSIBLE Of course, lawmakers still have 10 days left in 2012 to strike a deal, and some are confident they will return to Capitol Hill after Christmas and do just that. "So far, the market has been handling setbacks in talks very well, and with a bit of time left on the clock, this time will be no different," said Jim Barnes, senior fixed income manager at National Penn Investors Trust Co. For some, the political disarray among Congressional Republicans that sent Boehner's "Plan B" to defeat late on Thursday only increased those hopes. "Given that Reid called Plan B 'dead on arrival' and Obama said he would veto it, the non-passage of this bill due to lack of Republican support makes it more likely, not less likely, that compromise will be reached," said Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, which oversees more than $50 billion. Harry Reid is the Democratic Senate leader. The "continued positioning and posturing" isn't a huge concern to investors, Woolfolk said. "Neither side has incentive to compromise too much, too soon. They can extract concessions by delaying. So I would not be surprised if it takes until minutes before midnight on December 31." All the back-and-forth, however, may keep the stock market a bit more volatile than it would normally be so late in the year. The benchmark S&P 500 <.spx> has gained or lost more than 1 percent in three of the past five trading sessions, while the CBOE Volatility Index <.vix> has climbed more than 20 percent over the past three days. In a sign of the type of volatility investors may be confronted with, S&P 500 E-Mini futures fell as much as 3.6 percent in after-hours trading Thursday evening, with a 15-point drop in less than one second that resulted in a brief halt in futures trading. "While last night's mini-crash is a rare event, I do expect bigger moves than we've seen in the past year," said Enis Taner, global macro editor at RiskReversal.com, an options trading firm based in New York.

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Signs suggest better economy if 'cliff' is averted

WASHINGTON (AP) — Fresh signs of a strengthening U.S. economy on Friday suggested that if Congress and the White House can avert the "fiscal cliff," the economic recovery might finally accelerate in 2013. Consumers spent and earned more in November. And for a second straight month, U.S. companies increased their orders for a category of manufactured goods that reflects investment plans. In light of the latest figures, some analysts said the economy could end up growing faster in the current October-December quarter — and next year — than they previously thought. "I see momentum building," said Joel Naroff, chief economist at Naroff Economic Advisors. "If Washington makes the moves it needs to make, then the economy should pick up speed next year." That's a big "if." House Republicans called off a vote on tax rates and left budget talks in disarray 10 days before the package of tax increases and spending cuts known as the fiscal cliff would take effect. Still, helping lift the optimism of some analysts was a government report that consumer spending, which fuels about 70 percent of the economy, rose 0.4 percent in November compared with October. Spending had dipped 0.1 percent in October. But that decline was linked in part to disruptions from Superstorm Sandy. Incomes rose 0.6 percent in November, the biggest gain in 11 months. It reflected a rebound in wages and salaries, which had been depressed in October. Damage from Sandy in the Northeast prevented some people from working at the end of October and reduced wages at an annual rate of $18 billion. A separate report Friday showed that a category of durable-goods orders that tracks business investment surged 2.7 percent. That gain followed an upwardly revised 3.2 percent jump in October, the biggest in 10 months. The back-to-back increases followed a period of weakness in so-called core capital goods that had raised concerns about business investment, a driving force in the economy. The economy grew in the July-September quarter at a solid 3.1 percent annual rate. But some analysts said they thought growth would slow significantly in the October-December period. They predicted that consumers and businesses would cut back on spending because of worries about the fiscal cliff. But after Friday's reports, Peter Newland, an economist at Barclays Capital, said Barclays is raising its estimate of growth in the current quarter to a 2.4 percent annual rate, from a previous estimate of 2.2 percent. Naroff said he thinks growth in the fourth quarter can reach a 2.6 percent annual rate. He said he expects growth to hit a rate of around 3.2 percent in the January-March quarter and 3.6 percent in the April-June quarter. He said those estimates are based on his confidence that Washington policymakers will avert the sharp tax increases and spending cuts, which could trigger a recession if they remain in place for much of 2013. Naroff said U.S. economic growth would benefit next year from a rebounding housing market, gradual hiring gains that will boost incomes and the likelihood that Europe's financial crisis will ease and dampen U.S. exports less than in 2012. But he said his optimistic forecasts would be derailed if the economy goes off the fiscal cliff in January, which could send shockwaves through financial markets. "If the fiscal cliff is breached, the biggest concern is confidence," Naroff said. "I remain hopeful that saner heads will prevail in Washington." Economists said the budget impasse and the uncertainty it's created about tax rates are reducing consumer confidence. The University of Michigan said Friday that its index of consumer sentiment for December fell to 72.9, its lowest point since July. It was a sharp drop from the November reading of 82.7, a five-year high. Chris G. Christopher Jr., senior economist at IHS Global Insight, said he still expected holiday retail sales to increase a respectable 3.9 percent this year over last year despite slumping consumer confidence. And he said spending momentum should continue into 2013 — as long as the fiscal cliff is resolved in a way that avoids damaging the economy. "We are assuming that the fiscal cliff does get resolved, and if it does, we should see strong consumer spending and momentum for the economy in 2013," Christopher said. "But if we go down the fiscal cliff, then the first quarter will not be pretty."

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Scenarios: Seven ways the US 'fiscal cliff' crisis could end

WASHINGTON (Reuters) - So what now? The U.S. House of Representatives' rejection of a bill to raise taxes on just 0.18 percent of Americans - those making more than $1 million a year - has raised questions about the Republican-led chamber's ability to approve any plan to avert the looming "fiscal cliff." Unless President Barack Obama and the U.S. Congress can forge a deal during the Christmas and New Year's holiday season, the largest economy in the world could be thrust back into a recession because of the steep tax increases and spending cuts that are due to begin in January. The threat of across-the-board government spending cuts and tax increases - about $600 billion worth - was intended to shock the Democratic-led White House and Senate and the Republican-led House into moving past their many differences to approve a plan that would bring tax relief to most Americans and curb runaway federal spending. For weeks, Obama and House Speaker John Boehner, the top Republican in Congress, have struggled to find a compromise. But after a glimmer of hope that a deal was close early this week, Boehner - apparently under pressure from anti-tax House Republicans aligned with the conservative Tea Party movement - pressed the "pause" button on negotiations. He then tried to push a backup plan through the House late on Thursday, only to see his fellow Republicans kill it. Where do Obama and Congress go from here? Here are some possible scenarios. * Obama and Boehner go back into their secret negotiations. Before Boehner started touting his failed "Plan B" to boost taxes on those who make more than $1 million, he and Obama were moving closer together on a plan to raise taxes on certain high-income Americans and cut spending. They could pick up where they left off and quickly cut a deal to bridge the gap. But a compromise with possibly $1 trillion in new taxes and $1 trillion in new, long-term spending cuts could be a tough sell for both Republicans and Democrats in Congress. Boehner would have to persuade enough Republicans on the idea of tax increases. Obama, meanwhile, would have to get Democrats in Congress to back cuts to some social safety net programs such as Social Security pensions and Medicare and Medicaid health insurance for the elderly and poor. House Republicans appear to be the tougher sell. * A huge drop in the stock market sends a loud message to Washington politicians to stop arguing and cut a quick but meaningful deal. That is what happened in late September 2008, after Congress rejected a massive financial bailout package despite warnings by Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson of an economic collapse if the bill failed. The Dow Jones Industrial Average plunged more than 700 points and Congress quickly reversed course, approving the $700 billion Troubled Asset Relief Program just days later. The "fiscal cliff" may not be as dramatic a situation, but the tax increases and cuts in federal spending could deal a stiff blow to the economy. * No deal happens in the dwindling days of 2012 and the U.S. government jumps off the fiscal cliff - at least temporarily. On January 1, income taxes would go up on just about everyone. During the first week of January, Congress could scramble and get a quick deal on taxes and the $109 billion in automatic spending cuts that most lawmakers want to avoid. Why could they reach a deal in January if they fail in December? The reason would be that once taxes go up, it would be easier to allow a few of those increases to remain in place - mostly on the wealthy - and repeal those that would hit middle- and lower-income taxpayers. Such a scenario would mean that no member of Congress technically would have to vote for a tax increase on anyone - taxes would have risen automatically - and the only votes would be to decrease tax rates for most Americans back to their 2012 levels. * No deal occurs for another six weeks or so. If Congress does not raise the nation's debt limit, by mid-February the Treasury Department likely would exhaust its ability to borrow. That would put the nation at risk of defaulting on its debt. Republicans have withheld their approval of the debt-limit increase as leverage to try to get the kind of "fiscal cliff" solution they want: Fewer increases in spending and taxes, and more cuts to Social Security, Medicare and Medicaid. This is the strategy they employed in mid-2011 during the last fight over the debt limit, which is about $16.4 trillion. Republicans wrung spending cuts out of Democrats in return for new borrowing authority, but paid a political price. Global financial markets were rocked by the long uncertainty brought on by the standoff in Congress, one ratings agency downgraded U.S. credit standing and Republicans saw their public approval ratings sink. * Boehner decides on a gutsy move: Call a House vote on a bill that would raise tax rates for families with net annual incomes above $250,000, exactly what Obama has sought. The plan could pass the House with strong Democratic support and some Republican votes. As soon as it passed, the House likely would leave town for the rest of the year without addressing other Obama priorities such as increasing the government's debt limit. * A partial deal is struck at any point. Congress could pass a plan that would put off most of the income tax increases that are due in January, or extend some other expiring tax breaks - namely one to prevent middle-class taxpayers from being subject to higher tax rates aimed at the wealthy under the alternative minimum tax. * Stock markets do not tank and Washington politicians conclude that the "fiscal cliff" is not such a bad thing.

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Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all. A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession. Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013. Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four. "The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management. "The markets still basically believe that something will be done," he said. If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break. For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent. Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent. IT COULD GET A LITTLE CRAZY Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion. If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington. "I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati. "A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility." Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along. Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week. "We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said. "Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite." Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks. The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent. Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains. U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

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U.S. judge approves settlement in BP class action suit

(Reuters) - A U.S. judge on Friday gave final approval to BP Plc's settlement with individuals and businesses who lost money and property in the 2010 Gulf of Mexico oil spill. The order only addressed the settlement of economic and property damage claims, not a separate medical benefits settlement for cleanup workers and others who say the spill made them sick. BP has estimated that it will pay $7.8 billion to settle more than 100,000 claims in the class action litigation. U.S. District Judge Carl Barbier initially approved the deal in May, but held a "fairness hearing" in November to weigh objections from about 13,000 claimants challenging the settlement to resolve some of BP's liability for the worst offshore oil spill in U.S. history. London-based BP's Macondo well spewed 4.9 million barrels of oil into the Gulf of Mexico over a period of 87 days. The torrent fouled shorelines from Texas to Alabama and eclipsed the 1989 Exxon Valdez spill in Alaska in severity. Lawyers for some affected parties had objected to the deal, reached in March between BP and lawyers representing plaintiffs ranging from restaurateurs, hoteliers, and oyster men who lost money from the spill. They argued that some claimants would be underpaid or unfairly excluded. But in a 125-page order approving the settlement, Barbier called the deal "fair, reasonable and adequate," citing the low number of class members who objected or opted out. BP welcomed the approval order in a statement, adding that the settlement resolves the majority of economic and property damage claims stemming from the accident. "Today's decision by the Court is another important step forward for BP in meeting its commitment to economic and environmental restoration efforts in the Gulf and in eliminating legal risk facing the company," BP said. Separate from the class action claims, BP has been locked in a year-long legal battle with the U.S. government and Gulf Coast states to settle billions of dollars in civil and criminal liability from the explosion. In a settlement with the U.S. government announced last month, BP agreed to pay $4.5 billion in penalties and plead guilty to felony misconduct. The government also indicted the two highest-ranking BP supervisors aboard the Deepwater Horizon rig during the disaster, charging them with 23 criminal counts including manslaughter. The class action case is In Re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico on April 20, 2010, U.S. District Court for the Eastern District of Louisiana, No. 10-2179.

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Canadian Football Hall of Famer Eagle Keys dies at 89; won three Grey Cups

VANCOUVER - Canadian Football Hall of Fame inductee Eagle Keys has died at the age of 89.
Keys played centre and linebacker for five years with the Montreal Alouettes (1949-51) and with the Edmonton Eskimos (1952-54), being named to three CFL all-star teams.
He became a coach after retiring as a player, starting as an assistant in Edmonton in 1955. He became the Eskimos' head coach in 1959, a job he held until 1963.
Keys also was the head coach of the Saskatchewan Roughriders (1965-70) and B.C. Lions (1971-75).
Keys played for two Grey Cup-winning teams and won one with the Roughriders in 1966.
He was inducted into the Canadian Football Hall of Fame as a builder in 1990.

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Vikings still wowed by Peterson's rapid recovery

EDEN PRAIRIE, Minn. (AP) — Most days, Adrian Peterson went through rehab drills looking as if he were never injured.
No one could've foreseen the rapid recovery Peterson has made since that bionic left knee of his was severely damaged near the end of a lost 2011 season for Minnesota. No one could have predicted these weekly gallops down the field and through the NFL record book.
With two games to go, Peterson needs 294 yards to break Eric Dickerson's all-time single-season rushing record. He is 188 yards from becoming the seventh player in league history to reach 2,000 yards in one year.
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Dec. 24, 2011:
The Vikings were playing at Washington the day before Christmas, a meaningless matchup between teams well out of postseason contention. The end of a routine 3-yard run early in the third quarter by Peterson, the throwback thoroughbred the Vikings have hitched their franchise to in a league now dominated by the forward pass, ended with excruciating pain.
Redskins safety DeJon Gomes dived at his lower left leg to take him down, tearing Peterson's anterior cruciate and medial collateral ligaments in the process. Peterson, lying face down on the grass, knew immediately "something bad" had happened. By the time head athletic trainer Eric Sugarman and team physician Dr. Joel Boyd raced over from the sideline, Peterson was screaming, "Why me? Why me?"
Sugarman and Boyd performed the Lachman test, where the leg is pushed and wiggled to gauge the stability of the ACL.
"It was just gone," Sugarman said. "So now your worst nightmare is confirmed."
By the time the game was over, Peterson's attitude had already turned. His knee in a brace, sitting in the training room, he asked Sugarman, "Hey, what do we do next? Where do we start? How do we get better?"
"His grieving was very short-lived," Sugarman said.
The rehabilitation of one of the best running backs in NFL history began.
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The winter:
The first three months of the reconstructive knee surgery recovery are always the hardest, and even for Peterson this was no different. The mornings were dark and cold. Most of his teammates were gone. There were occasional text messages Sugarman had to send to encourage Peterson not to let up. The swelling had to subside first, before he could start the process of restoring his range of motion. The pain from both the incision and the bone that had to be broken to allow the ligament to be replaced was intense. But as soon as Dr. James Andrews performed the procedure in Birmingham, Ala., on Dec. 30, Peterson was ready.
"I had in my mind from the moment I got out of surgery that I was going to be back, that I was going to be good and healthy," Peterson said.
In three weeks, he was walking. After six weeks, he began to jog in the pool. At eight weeks, he was sprinting, with the jets turned on for resistance. Then, 10 weeks after the operation, he ran on hard ground for the first time. Peterson and Sugarman were the only people on the indoor field at Winter Park that day.
"The first time I have a guy run after an ACL, they look like they have marbles in their shoe," Sugarman said. "He probably had done it on his own without telling me before that, I would guess. But the guy took off and ran across the field like, 'Whoa! He looks totally normal.' This isn't supposed to happen. So that was awesome."
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The spring and summer:
On the first day of the team's conditioning program in late April, the players lined up for sprints. Peterson was working with Sugarman on the side when he saw what was going on. Granted permission to participate, Peterson jumped in line with the rest of the runners. His exhausted teammates wore expressions of disbelief.
"He finished in first four different times," head coach Leslie Frazier said.
Peterson also spent time at his offseason home in Houston, where he worked with physical therapist Russ Paine at the Memorial Herrmann Sports Medicine Institute. Paine picked up where Sugarman and his staff left off.
When Peterson showed up for his sessions at the clinic, the other athletes rehabbing there stared in amazement as he sprinted at the top speed levels of the treadmill. When he lined himself up at the leg press machine, he asked that the prescribed weight be doubled.
"I really wasn't playing around. I was on a mission," he said.
After 14 weeks, the drills advanced. Sugarman rolled a soccer ball as Peterson shuffled from side to side in a sand pit, trying to catch it like a goalie and throw it back in the same motion. He ran tight circles around hula hoops on the turf. He sprinted forward as Sugarman held him back with a bungee cord. Sometimes, for fun, they chased each other around the training room on stools with wheels so Peterson could strengthen his hamstring muscles. Or they'd stand on small red discs and toss a ball back and forth.
"He was terrible at it. He just hates to lose at anything," Sugarman said. "So it's great when I can beat him at something."
Peterson started training camp in Mankato, Minn., on the physically unable to perform list. His protest unsuccessful, he realized the importance of taking the process slowly. Those precious last few degrees of flexion in the knee took several months to return. The cutting, stopping and restarting he has to do for his job required nothing less than the full explosive ability of the joint. The muscles around the knee that atrophied after the surgery needed to be recalibrated, with quadriceps, hamstrings and calves in the proper strength proportion to one another.
Peterson began to be integrated into practice, though, with fans and coaches holding their breaths,
"He just dominated the rehab. It was ridiculous," Sugarman said.
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The opener:
Peterson was in the backfield on Sept. 9 as he planned all along, and he ran like he never left, carrying the ball 17 times for 84 yards and two touchdowns in an overtime victory over Jacksonville. He got the game ball afterward, which he gratefully passed on to Sugarman.
The ligament was as strong as ever, as good as new, but that didn't mean the Vikings weren't still nervous, wondering how Peterson would perform.
"I don't really worry anymore. But the first part of the season I was worried sick," Sugarman said.
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The rest of the season:
Peterson felt right after the Sept. 23 win over San Francisco, when he woke up the morning after feeling the usual post-game soreness. He truly began to take off on Oct. 21, when he hit the 150-yard mark in beating Arizona. He's passed the 170-yard mark in four of the last six games, twice surpassing 200 yards.
"He was never going to let this injury be an excuse for him not to be at the level he was at, and I think all the people saying he couldn't do it gave him more drive," defensive end Jared Allen said. "That's the competitor in him, and that's why we love him here."
Peterson jumped in the cold tub to recover after Sunday's game at St. Louis. He's still been doing stretching and strengthening exercises on his left leg. Other than that, there's nary a sign of his injury left.
Sugarman has received all kinds of correspondence from coaches and competitors in all levels of athletics, wondering what their secret was. But Peterson hasn't really rewritten the ACL rehab manual. He's just added another remarkable chapter to his exceptional career.
"His ability to heal is probably different than mine or yours. His work ethic. His determination. His faith. He just has all these factors that, when put together, allowed him to accomplish what he has almost a year out from this terrible injury," Sugarman said.
"I don't think it's quite fair for everyone who tears their ACL moving forward to compare themselves to Adrian Peterson. They're setting themselves up for, in most cases, an unrealistic expectation."
Peterson, who is 27, has stated his desire to break Emmitt Smith's record for career rushing. He'd have to play a long time to do that. But after his performance this year, that mark is just as achievable for him as the rest.
"It just depends on how long God blesses me to play," he said. "I might go far and play 'til I'm 40. I don't know."

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