TODAY honors the life and 40-year career of Hollywood actor Michael Madsen – known for his efficacious villains and Quentin Tarantino collaborations – following his death at age 67. Also, Vicky Nguyen kicks off the holiday weekend with deals on summer essentials and early back-to-school shopping. Plus, Macy’s Studios executive producer Will Coss shares a sneak peek at the famed Macy's Fireworks Celebration and what it takes to pull off the epic spectacle. And, grill master Hugh Mangum fires up a Fourth of July BBQ complete with chicken marinaded 3 ways and a holiday fruit cobbler.