Cramer's week ahead: nonfarm payrolls, PMI and earnings from Albertsons

CNBC's Jim Cramer on Friday walked investors through next week's market action, highlighting new economic data from the nonfarm payroll report and the latest purchasing managers' index, as well as earnings from grocery giant Albertsons.

"It's a light week, but still impactful. Accept that people will be on edge ahead of Friday's employment report," he said."Still, I think you should do some buying if the market gets hammered. As we saw today, it's not nearly as bad out there as so many think.

Monday's PMI report will provide Wall Street with a solid look at the economy, Cramer said, but added that"any bull might be perturbed by still one more hot number."CEO Jensen Huang is also set to speak Monday night to kick off the annual Consumer Electronics Show in Las Vegas. Tuesday brings a job openings report, known as the JOLTS, and Cramer said it could provide clues about Friday's labor report.

The market will be closed Thursday for former President Jimmy Carter's funeral. While Cramer said there's not much consequential news that day, he will be following a report fromOn Friday, the Labor Department will release the nonfarm payroll report, and Cramer said it needs to show lower wage growth and disappointing hiring, as that could help bring down theabout alcohol as a carcinogen as well as concerns about import tariffs on its Mexican products like Corona and Modelo.

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