July Fourth Celebrations, a Heat Wave, and a Red Card Controversy: Your Morning Rundown

The United States is celebrating its 250th birthday this Fourth of July weekend with events happening from coast to coast. President Donald Trump is set to headline a celebration at Mount Rushmore, while New York City and Washington, D.C., have big plans of their own. At the same time, a dangerous heat wave is hitting many parts of the country, and questions are being raised about hundreds of stock trades the president made before pausing tariffs.

Heat alerts are in effect across much of the country this holiday weekend. Many major cities, especially in the Northeast, are expecting temperatures close to 100 degrees. The combination of extreme heat, high humidity, and warm nights could create life-threatening conditions for some people.

New York Mayor Zohran Mamdani plans to give a big speech about the city's place in American history. In Times Square, the famous ball will drop eight times — once for each time zone in the United States. In Washington, D.C., a concert called 'A Capitol Fourth' is planned at the National Mall for people to enjoy music and fireworks together.

President Trump's financial records, called a disclosure, show that his investment accounts made more than 300 stock purchases on April 8, 2025. That was just one day before he announced a pause on some of his 'Liberation Day' tariffs, which are taxes on goods coming from other countries. After he announced the pause on April 9, major U.S. stock markets jumped sharply — the S&P 500 had one of its best single days ever.

The stocks that were purchased included shares in the company that owns Chili's restaurants, a financial firm called Axos, and the company that owns the New York Knicks and Rangers sports teams. These 327 purchases are only a small part of all the trading done in the president's accounts since he returned to office. The fact that these trades were not reported until more than 14 months later has caused both Republicans and Democrats to call for a closer look at the president's money and business interests.

At the FIFA World Cup, American soccer player Folarin Balogun was given a red card — meaning he was thrown out of the game — during a match against Bosnia-Herzegovina on Wednesday. The call came after a video assistant referee asked the head referee, Raphael Claus, to review a collision between Balogun and a Bosnia-Herzegovina player named Tarik Muharemović. After watching replays, Claus decided to send Balogun off the field.

The call immediately caused debate among fans and experts. Rules analyst and former FIFA referee Christina Unkel said the incident falls into what she calls the 'orange zone' — a gray area that is hard to judge. She also said the play should not have been reviewed by the video referee at all, which would have meant no red card.

In other World Cup results, Spain beat Austria 3-0, Portugal defeated Croatia 2-1, and Switzerland topped Algeria 2-0. Coming up today, Australia faces Egypt at 2 p.m. ET, Argentina takes on Cape Verde at 6 p.m., and Colombia plays Ghana at 9:30 p.m. Soccer fans have a full day of exciting matches to look forward to.

In other news, the CDC is warning that more people may be at risk than once thought for a tick-borne illness that can cause an allergy to red meat. U.S. Olympic canoeist David Hearn was charged with damaging the Lincoln Memorial Reflecting Pool, though critics say the accusation came without solid evidence. And in Iran, ordinary citizens are struggling with job losses, rising prices, and the damage caused by war, even as their government and American officials try to work out a deal.