September 25 overnight news at a glance

1. People familiar with the matter say U.S. and Iranian negotiators are discussing a phased agreement that includes Iran reopening the Strait of Hormuz and the U.S. lifting its economic blockade of Iranian ports. 2. Iranian President Masoud Pezeshkian said in an interview with Fox News through a translator that Iran will abide by international law on the issue of uranium enrichment. Pezeshkian said that if Iran is attacked, it will defend itself, but "we absolutely do not want war." 3. The U.S. Senate voted 50 to 49 to reject a resolution limiting Trump's war powers regarding Iran, which would have required the president to withdraw U.S. forces participating in hostilities against Iran. 4. The Trump administration said in a court filing that it has temporarily restored White House access for three media outlets. Previously, Trump banned these outlets from the White House last week. 5. Yields on the longest-dated U.S. Treasuries rose to their highest level in more than 20 years, another milestone for U.S. bond yields amid a sustained global bond selloff driven by concerns over inflation and the government debt burden. 6. The United States is seeking to join a lawsuit filed by Elon Musk to overturn a 120 million euro fine imposed by the European Union on social media platform X for violating online rules. 7. Oracle sent a "force majeure" notice to the developer of its New Mexico data center project. If the project cannot be put into use as scheduled in 2028, Oracle intends to delay payment. 8. Federal Reserve Bank of Philadelphia President Anna Paulson said interest rates may need to be raised further to ensure inflation returns to the central bank's 2% target. 9. Federal Reserve Bank of Cleveland President Beth Hammack said the U.S. economy is facing a series of supply shocks, which increases the risk of inflation psychology becoming entrenched.