Much of Wall Street is worried that sliding oil prices could be a sign of global economic weakness, but CNBC's Jim Cramer offered a counter-theory on Friday as he prepared investors for the week ahead.
"I read the decline in oil as an issue of supply overwhelming demand, not demand waning," he said on "Mad Money." "When that happens, it's terrific for both consumers and for business. You're paying less at the pump; industry's paying less on the big bill."
Cramer acknowledged that worries about the Federal Reserve's rate hike agenda would also underscore next week's earnings reports. Still, he asked investors to stay level-headed until the market gets more clarity on the economic layout.
"When we see this entire mosaic of earnings reports, we should get a pretty good snapshot of whether the consumer is still as strong as she's been, but, of course, hopefully not so strong that the Fed feels the need to reiterate that it needs to burn down the economic village in order to save it," he said.
Click here for Cramer's full game plan, which includes earnings reports from cannabis play Tilray, Macy's and more.