Share markets globally are on the rise, with Wall Street hitting another record high and Asian markets following suit. However, Japan faces political uncertainty ahead of an upper house election, causing Japanese shares, bonds, and the yen to weaken. The yen is down about 0.7% to 148.45 per dollar. European share markets are expected to open higher. Japan’s core inflation slowed in June but remains above the central bank’s 2% target. Despite these challenges, investors are optimistic about the U.S. economy and strong corporate earnings, with Wall Street futures slightly up. Fed Governor Christopher Waller supports a rate cut at the end of the month, but futures suggest little chance of a move on July 30. Key developments for Friday include Germany’s PPI for June, German Finance Minister and Bundesbank President speaking at a G20 meeting, and the U.S. University of Michigan Consumer Sentiment survey.

Read more at Yahoo Finance: Stocks buoyant but Japan vote brings risk