Global shares mostly advanced on Friday, following Wall Street’s record highs driven by upbeat U.S. economic indicators and mixed earnings from major companies.

In early European trading, Germany’s DAX gained 0.4% to 24,479.86, France’s CAC 40 climbed 0.6% to 7,869.86, and the UK’s FTSE 100 edged up 0.2% to 8,987.81. Futures for the S&P 500 and Dow Jones Industrial Average each rose 0.1%.

In Asia, Japan’s Nikkei 225 slipped 0.2% to 39,819.11, as investors awaited Sunday’s upper house election, which could impact the ruling coalition’s majority. Core inflation in Japan rose 3.3% in June, down from May’s 3.7%, but still above the Bank of Japan’s 2% target.

Hong Kong’s Hang Seng advanced 1.2% to 24,825.66, while Shanghai’s Composite added 0.5% to 3,534.48. Taiwan’s Taiex rose 1.2%, bolstered by a 2.2% gain in Taiwan Semiconductor Manufacturing Co. (TSMC) after it reported a 61% jump in quarterly net income, driven by AI-related demand. TSMC’s U.S.-traded shares surged 3.4% Thursday.

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Australia’s ASX 200 gained 1.4% to 8,757.20, while South Korea’s Kospi dipped 0.1% and India’s Sensex declined 0.6%.

“Asia’s riding the global rally wave, AI fever refuses to break, and even the Fed is making soothing noises,” wrote Stephen Innes of SPI Asset Management. “But underneath all the sunshine is a market running hot, with volatility on sale and positioning still cautious.”

On Wall Street Thursday, the S&P 500 rose 0.5% to 6,297.36, the Dow added 0.5% to 44,484.49, and the Nasdaq climbed 0.7% to 20,885.65.

Strong U.S. retail sales and a drop in jobless claims signaled continued economic resilience, likely keeping the Federal Reserve on hold regarding interest rate moves.

Meanwhile, U.S. crude rose 84 cents to $67.07, and Brent crude gained 80 cents to $70.32. The dollar strengthened to 148.72 yen, and the euro increased to $1.1640.