The S&P 500 is steadily approaching record highs, driven by gains in technology stocks as investors largely shrugged off geopolitical concerns in the Middle East. The Federal Reserve's meeting minutes revealed a robust debate over the size of the September rate cut, while U.S. 10-year Treasury yields have risen for six consecutive sessions. In corporate news, Alphabet shares dropped amid a historic Big Tech antitrust case, and Tesla shares also fell ahead of its Robotaxi launch. Meanwhile, Rio Tinto is making a significant move into lithium, and oil prices have declined as U.S. crude inventories increased. On the other side, Australian shares are expected to rise, supported by a rebound in iron ore prices, while the Australian dollar has weakened against a stronger U.S. dollar.

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