A look at the day ahead in European and global markets from Rae Wee

With U.S. President Donald Trump's nomination to fill a newly vacant seat at the Federal Reserve now out of the way, investors are awaiting a Senate confirmation to see if Stephen Miran would have a vote at the central bank's September meeting.

Trump on Thursday picked the Council of Economic Advisers Chairman to serve out the final few months of an open spot on the Fed Board, following Fed Governor Adriana Kugler's surprise resignation last week.

The news hardly elicited a response from markets on Friday, with Miran's chances of winning Senate confirmation still uncertain. The economist has called for a complete overhaul of the Fed's governance.

But one thing's for sure - should Miran join the Fed, he would most certainly vote to lower rates.

And even in a placeholder role, his appointment would give Trump a potentially more direct route to pursue his desire for easier monetary policy and sway over the world's most influential central bank.

Trump also said that the White House continues to search for someone to serve in the 14-year Fed Board seat that opens February 1 and is also weighing options for a successor to Fed Chair Jerome Powell, whose term ends May 15, 2026.

Bloomberg News reported on Thursday that Fed Governor Christopher Waller is emerging as a top candidate to be the central bank's next chair and has met with members of Trump's team, who are impressed with him.

In other tariff news, the U.S. government on Thursday promised to amend a presidential executive order to remove overlapping tariffs on Japanese goods, Tokyo's trade negotiator said, after talks in Washington to fix what he called a "regrettable" oversight.

In those discussions, Ryosei Akazawa urged U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to ensure that a 15% levy agreed last month on Japanese imports was not stacked on goods, such as beef, that are subject to higher tariffs.

The removal of the tariff overhang lifted stocks in Tokyo and sent the Topix index climbing above the key psychological mark of 3,000 points for the first time on Friday, further buoyed by a streak of strong earnings reports.

Shares of SoftBank Group 9984.T rose nearly 11% after the technology investor reported a swing back to profit in the first quarter.

Key developments that could influence markets on Friday:

- St. Louis Fed President Alberto Musalem speaks

- Under Armour Q1 earnings

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(Reporting by Rae Wee; Editing by Muralikumar Anantharaman)

((rae.wee@thomsonreuters.com))