The US Navy engaged the Japanese from June 4-7, 1942 in what was a decisive victory over the Japanese that put them on defensive for the rest of the war. In short, it was a battle that changed the course of the war and one of the great naval triumphs in history. The US had great intelligence, excellent commanders and the unbelievable heroism of her fighting men. In the end, four Japanese aircraft carriers were sunk against the loss of the USS Yorktown. And the Japanese were turned back. From that point onward, it was the allies, primarily the US, that had the initiative. Hard fighting remained but the Battle of Midway was a decisive blow from which the Japanese never recovered.
An excerpt from the excellent post at the USNI blog,
Until 1019 on the morning of 4/5 June 1942, things had gone badly for the US and its allies. With few exceptions, the Allies were fighting a losing battle in the Pacific. Indeed, as events unfolded that morning, it appeared as if the rout was on. The attacks by land-based air forces from Midway had utterly failed culminating in the loss of many aircraft. The strikes by the torpedo aircraft were decimated - an entire squadron of TBDs shot down with only a sole survivor to claim witness. An entire air group missed the Japanese carriers and the battle altogether and of the remaining forces, they were scattered and disorganized. The future was looking grim. At 1019, Hiryu’s senior lookout shouted he had spotted dive bombers attacking Kaga from overhead. Despite being thrown into a hard turn, Kaga was struck by a 500 lb bomb and then successive strikes utterly crushed her…
Be sure to go to their blog and read their entry and follow throughout the series on the battle. (H/T: Ace)
67th Anniversary of the Battle of Midway: 4/5 June - Forces Engaged | USNI Blog