U.S. markets had a shaky start to the week, as failed debt talks in Greece stoked worries of a potential exit from the euro zone.
As important as the debt talks are for Greece and Europe, however, one analyst says U.S. investors shouldn’t be distracted.
“It could be a potentially very negative outcome for Greece,” Jeffrey Kleintop, Charles Schwab chief global strategist told CNBC’s “Squawk on the Street.” He added: “The effects however beyond Greece are largely contained.”
Read MoreInvestors eye Greece despite debt talks breakdown
Don’t sweat the ‘Grexit’
Kleintop pointed to the European Central Bank’s bond buying strategy, as well as the fact that more countries have been joining the euro zone than leaving it, as reasons to doubt any sort of a contagion effect could spread from a so-called “Grexit.”
“I think that U.S. investors can actually look at this as a value opportunity,” he said. “Economic growth is actually improving within the Eurozone despite the drama over Greece.”
James Paulsen, Wells Capital Management chief investment strategist, echoed the sentiment—citing increasing evidence that stimulus from lower energy prices and lower sovereign bond yields are starting to help economies.
Read MoreGreece on ‘brink of disaster;’ calls emergency meeting
In fact, better housing numbers, job numbers, retail sales, and inflation ticking up in Europe leads Paulsen to “think we are at the front end of a bit of a global bounce, and maybe even a synchronized global bounce.”
“I really think at the end of the day it won’t be the Fed that determines how fast or how much they raise [rates], it will be the economy,” he said. “Right now I think that’s turning back up again.”
That could mean a rate hike coming quicker than expected, which has some investors on edge, according to Kleintop. “If you take a look at the American Association of Individual Investors survey, only 20 percent of investors are bullish,” he said. “I think they are a bit worried about the pace of what the Fed might do.”
The Fed statement on Wednesday will be closely watched to see how aggressively rates might move. Paulsen says any comments on wages or core inflation would be the more interesting parts to watch for.