Spider-Man: Far From Home is swinging into the holiday stretch with a record-breaking box office haul.

The Marvel blockbuster sequel — starring Tom Holland as the titular hero and Jake Gyllenhaal as Mysterio — made fireworks on opening day at the top of the traditionally lucrative Independence Day frame, pulling in a massive $39.3 million to set the record for the largest Tuesday gross in history (unadjusted for inflation).

Far From Home snatches the title from a previous Spider-Man iteration, as Andrew Garfield’s The Amazing Spider-Man previously held the Tuesday record when it amassed $35 million on July 3, 2012.

Given the Jon Watts-directed film’s healthy start at 4,634 North American locations (a July record), analysts have projected Far From Home to earn roughly $125 million over the six-day holiday period — around $8 million more than Spider-Man: Homecoming‘s three-day $117 million opening (en route to $880.2 million worldwide) in 2017.

The $160 million movie’s projected gross should easily top the weekend box office, which includes competition from A24’s prestige horror flick Midsommar (projected to open in the high single digits) as well as strong holdovers like Disney’s Toy Story 4 and the live-action Aladdin remake, New Line’s Annabelle Comes Home, and Danny Boyle’s Beatles-themed dramedy Yesterday.

Far From Home charts the course of Peter Parker/Spider-Man soon after the events of April’s Avengers: Endgame, as the teenage hero and Nick Fury (Samuel L. Jackson) forge ahead to vanquish evil without the likes of Iron Man (Robert Downey, Jr.), Black Widow (Scarlett Johansson), and others.

Spider-Man: Far From Home — also starring Zendaya, Cobie Smulders, Jon Favreau, and Marisa Tomei — is now playing in theaters nationwide. For more on the film, read EW’s digital cover story here.

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