US stocks end a winning week, S&P 500 nears record due to Fed rate cut hopes and strong US company profits; Australian market set to dip.

US stocks ended another winning week on Friday, while the Australian sharemarket is set to dip at the open, with futures indicating a loss of 15 points or 0.2%. The S&P 500 has climbed back within 0.6% of its record, driven by hopes of interest rate cuts from the Federal Reserve and strong profit reports from major US companies. The Australian federal budget will be delivered on Tuesday.