It's now Day 3 of the Tokyo Olympics, and United States athletes again are right in the thick of the action. Swimming superstars Katie Ledecky and Caeleb Dressel can win their first gold medals for Team USA, with their respective finals happening later today.

A powerhouse matchup is in store in the women's softball competition. Team USA and Japan renew their rivalry while the American men's rugby team will make its much-anticipated Olympic debut. Also seeing action on Day 3 is the U.S. men's gymnastics team in the men's team final event.

Ledecky and Dressel looking for glory in the pool

All eyes will be on the Tokyo Aquatics Centre for the second night of the swimming finals. Gunning for glory in this session is Katie Ledecky, who is racing in the women's 400m freestyle final. Also in the hunt for a gold medal is Caleb Dressel, who is expected to participate for the USA in the men's 4x100m freestyle relay. Pool action starts at 9:30 p.m. E.T. on NBC.

The United States and Japan will conclude their softball round-robin competition with a titanic clash later tonight. Both nations have already secured places in the gold medal match after winning each of their opening four games. Sunday night's meeting will determine seeding for the gold medal game.

It will be a rematch of their epic gold medal match in the 2008 Beijing Olympics, the last time softball was played in the Summer Games. Japan defeated the United States in an upset in that contest to end the reign of the Americans who had won gold in the 1996 Atlanta, 2000 Sydney, and 2004 Athens Games. The action starts at 9:00 p.m. E.T. on USA Network.

United States men's rugby and gymnastics teams take flight

Rugby competition in the Tokyo Olympics finally gets underway with the start of the men's rugby sevens, with each nation participating in this event playing a pair of matches today. Fiji, South Africa, and New Zealand enter as the favorites due to their rich rugby background, but we can never rule out the United States from making a fine run in this event.

The Americans, led by Perry Baker and Carlin Isles, have been playing some quality rugby in recent years and will look to carry that momentum in Tokyo. They will first face Kenya, which can be seen live on CNBC at 10:30 p.m. E.T.

The Americans will then square off with Ireland for their second match of the day. The game starts at 5:30 a.m. E.T. on USA Network. It's imperative for the United States to get at least a win out of these two games as a showdown with powerhouse South Africa awaits in their final preliminary match.

The U.S. men's gymnastics team will also see action on Day 3 for the team final. The Americans qualified in fourth place and will be one of eight countries competing in the final. They will be led in this competition by veteran gymnast Sam Mikulak and newcomer Brody Malone, who are qualified for the individual all-around final that will take place a few days from now. Action starts at 6:00 a.m. ET and can be seen live on Peacock.

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