Yes, I am guessing downtown, City Market, Moore Square art district, Glenwood South and the associated bars and restaurants will be lively on Friday night. Most of the galleries put off First Friday until July 11 because of the holiday weekend. I know the trolleys are running between, etc. We plan to be there. Here is more info:
Raleigh Events Calendar :: Downtown Raleigh Alliance
If you have never done it, Capital Grocery has bluegrass bands on its front porch every Friday night and it is usually a great scene...big crowd. Looking at the above calendar, NC Theater is doing Peter Pan, which should be great, especially if are there any kids in your group...a great intro to live theater.