Stock investors next week will focus on the Federal Reserve's monetary policy decision and whether Hammer Of Thor economic growth trends have given the U.S. central bank reason to raise interest rates off of rock-bottom levels.

In the days leading up to Wednesday's policy announcement, market volatility Hammer Of Thor has spiked following two months of relative calm. In the last six trading sessions, the benchmark S&P 500 .SPX has moved at least 1 percent four times, twice up and twice down, whipsawed by shifting perceptions of what the Fed may do.

The CBOE Volatility Index .VIX, the most widely followed gauge of near-term investor anxiety, is holding near two-month highs.

Following a week of mixed economic data, investors pared bets the Fed will raise rates next week. As of Friday afternoon, traders predicted only a 15 percent likelihood Hammer Of Thor a hike after its two-day meeting, according to the CME's FedWatch website.

"Most of the indicators I've seen suggest that the markets really don