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In the United States, Independence Day commonly known as the Fourth of July is a federal holiday commemorating the adoption of the Declaration of Independence on July 4, 1776, declaring independence from the Kingdom of Great Britain. Congress approved the wording of the Declaration on July 4 and then sent it to the printer. Whether John Hancock, as the elected President of the Second Continental Congress, or anyone else signed the document that day is unknown, because that document has been lost — presumably destroyed in the printing process. On August 2 in the following month, an engrossed document was signed by Hancock and other delegates.

Independence Day is commonly associated with fireworks, parades, barbecues, carnivals, picnics, baseball games, and various other public and private events celebrating the history, government, and traditions of the United States, but is often also viewed as simply a summer festival, apart from its patriotic overtones.

http://en.wikipedia.org/wiki/Fireworks#U.S._Independence_Day