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With a Covid-19 vaccine use authorization from U.S. drug regulators imminent, CNBC's Jim Cramer said Friday the time is ripe to take on some risk in the market.

"If you want to speculate, this is the time to do it, just speculate wisely," the "Mad Money" host said. "You've got my blessing to buy stocks into weakness as we move closer to the long-awaited vaccine, even if the much-needed stimulus bill is still up in the air."

The comments come after another mixed trading session on the stock market, closing a week when all the major averages posted declines and the Russell 2000 rose higher for the sixth straight week. The Dow Jones inched up 0.16% to 30,046.37. The S&P 500 slipped 0.13%, its third down day, to 3,663.46, and the Nasdaq Composite slid 0.23% to 12,377.87.

The day was marked by volatility as some investors traded on vaccine hopes, while others traded on uncertainty of ever-rising daily coronavirus cases and the stimulus bill standoff in Congress, Cramer said.

The Food and Drug Administration is expected to soon authorize the vaccine from Pfizer and BioNTech.

"The market's ratcheted back its expectations, so if we do actually get a stimulus compromise next week, stocks could come roaring back," Cramer said.

Cramer gave viewers a look at the earnings reports he has circled on his calendar in the week ahead. All projections are based on FactSet estimates:

AbbVie

"If AbbVie can present some good numbers for its newer drugs that could replace Humira, that will take the pressure off that drug and the company, and I think the stock could soar," Cramer said.

Elanco Animal Health

"This is a veterinary medicine play, and if CEO Jeff Simmons has anything newsworthy, the stock could play catch-up," Cramer said.

Lennar

Herman Miller

"We know Toll Brothers reported a very good quarter this week, and its stock just got crushed," Cramer said. "So unless Lennar and Herman Miller sell off hard going into their results, I suggest you take a pass. You're going to hear too much chatter about how these are the last good quarters or maybe the penultimate good quarters. I think that's wrong."

Accenture

"We start with Accenture, the information technology outsource consultant with a stock that tends to get hit on earnings," Cramer said. "Time after time, that's been a terrific entry point."

General Mills

"The market sure didn't like the numbers from Campbell Soup, but I bet General Mills will be better received," he said. "Watch their pet food business ... We know that category is on fire."

Rite Aid

FedEx

"We know that RAD (Rite Aid) will be one of the main distributors of the vaccine, along with CVS and Walgreens. We also know that FedEx will be shipping this thing all over the place. However, it's not much of a needle mover," he said. "That's bad news for Rite Aid, because they're being beaten by CVS and Walgreens ... but it's good news for FedEx, with its thriving e-commerce business."

Jabil

"People will try to extrapolate the success of the iPhone 12 from [supplier] Jabil, but it's a torturous affair because they're not allowed to mention the word Apple by name," Cramer said. "Still, the analysts will figure it out, and they're going to update their [Apple] forecasts on Friday."

Darden Restaurants

"I expect them to say good things, but it might not matter at this point, especially since the stock's already run a great deal from when they slashed the dividend," Cramer said.

Nike

"Nike should report a fabulous number because all of its physical store markets are coming back and its direct-to-consumer business is on fire," he said. "I would be shocked if Nike doesn't crush the estimates."

Disclaimer

Disclosure: Cramer's charitable trust owns shares of AbbVie, Nike, CVS and Apple.

Questions for Cramer?Call Cramer: 1-800-743-CNBC

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Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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Cramer's week ahead: This is the time to speculate - CNBC

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