Is the U.S. Economy Protected From the Euro Crisis?

Confidence is increasing that the United States could sustain the worst from Europe.

The European Union won the Nobel Peace Prize on Friday.

The European Union won the Nobel Peace Prize on Friday.


"If you look at the percentage of U.S. exports to [distressed European countries], it's less than 3 percent. Our direct exposure from an export perspective is nominal," Dawal adds.

Since the crisis began, experts have advised a wait-and-see approach, urging caution until the European situation is resolved. However, if Dawal is right, now could be a prime opportunity to shift to a more aggressive investment strategy.

And Dawal is not alone in his assessment. Brad Sorensen, director of market and sector analysis at Charles Schwab, says recent statements made by European leaders outlining steps to stem the crisis are encouraging. "We think it's far too early to sound the all-clear bell … but there's hope on the horizon," he says.

Dawal says a far greater threat looms closer to home: The government must come to an agreement that keeps the country from going over the fiscal cliff, he says, referring to the expiration of the Bush-era tax cuts and other spending cuts set to kick in at the end of the year.

"Right now, the biggest threat to the United States is ourselves," he says.

European Union