The movie opens immediately after the events of Spider-Man Far From Home. We pick up with a focus on a sign that says West 33rd Street, which is located opposite Pennsylvania station. This is where Peter was at during the post-credits scene of the prior movie. He jumps down to talk to MJ and is immediately swarmed by the public who are all recording him on their phones and posting out his reaction. This makes him panic and he grabs MJ before swinging through the city. This includes traveling past time square which has his face apparently blown up on the central screen. Not long after this.
Peter hands himself in and he's joined at the station by MJ, Ned, and also Flash. Flash is a big fan of Spider-man, but he hated Peter and used to bully him at school. However realizing that he's a good guy he joins his side, and interestingly the actor has now dyed his hair bleach blonde which lines up more with his comic book counterpart. Peter even allows himself to be put in one handcuff whilst the other one is tied to an interrogation room table. He could clearly snap out of this but he's meant to do it so that the officers feel safe similar to how Supes did it in Man Of Steel.
Soon enough people quickly realize that the Mysterio group doctored the footage with spider man “murdering” Quentin Beck. Peter’s name is cleared, however, he now has to live with the world knowing that he is spider-man. He goes back to school and gets surrounded at school by his classmates. He's constantly in the public eye. I’ve seen leaks lining up with this
There's a really touching scene where Peter and MJ sit on a rooftop away from the world, and Peter says that he just wants to stay up there forever. During this, Mj reads a newspaper that says spider-man has the power to hypnotize females (which apparently foreshadows something important)
The pair are absolutely consumed by the new fan fame. There's meant to be a lot of scenes early on that have them reading their phones, obsessing over it. The movie takes place across a number of seasons, and it's supposed to range from Summer, through Autumn, and all the way up to Winter (which we know from some behind the scenes videos on the film)
Now it's during Autumn, namely Halloween, that Peter gets a certain idea after looking at a witch decoration. He seeks Doctor Strange for his help on the whole identity debacle. We then transition to the Sanctum Sanctorum, and we find it pretty run down and covered in snow. This is because of the snap, and Bruce Banner smashing through the roof (funko pop toys line up with this)
Strange can be found shoveling snow and trying to clear the place out. Peter asks Strange if it's possible to go back in time and change things, but as we know this would only create a bigger mess. Going back in time would create a branched reality, rather than changing the results of what really happened. This portion of the movie pulls from the “One More Day” storyline. From what Heavy Spoilers has been told privately, the movie is pulling heavily from the comic.
Although Mephisto doesn't show up in this film, we get a similar story with Strange. Strange decides to do a spell that will erase the knowledge from everyone's mind that Peter is spider-man. Wong warns him of the dangers of this spell, and Strange tells him that “he won't do it”, but then he gives Peter a cheeky wink. Wong then packs his bags, and he goes off to fight the abomination in Shang Chi which leaves Strange by himself to cast the spell.
This is an odd detail, but Heavy Spoilers says that Strange will have a coffee mug that says “Oh for fox sake”. His source told him this specifically to prove that this leak is in fact true. If we see this coffee mug in the movie, it’ll prove that his source wasn't lying.
From here Peter and Strange go to the basement of the Sanctum, and Strange pulls a strand from Peter’s hair to create the spell (similar to what he did to Thor in Ragnarok. He then casts Peter’s secret identity out of the world to make sure that everyone forgets he is spider-man. This ends up going wrong because Peter interrupts him, and asks if he can complete in such a way that Aunt May, Ned, and MJ still remember. This is because Mj and Peter have a bit of back and forth about how difficult it was to keep it from her. Peter doesn't want to go through that again, but this, in turn, cracks the multiverse wide open and we get the sinister six coming through this tear in reality. The lineup is Green Goblin, Doctor Octopus, Electro, Lizard, Sandman, and Rhino The six villains attack New York and both Stange and Peter have to round them up. The only one they don't capture is Green goblin
Goblin decides to hang back whilst the others go ahead. Strange then put them in a prison which Peter doesn't know about, and Goblin goes to visit them. Here he finds out that the last thing they all remember is the spider-man of their earth being there when they died. Goblin can't break them out because there's a magical cube that Strange put in place to stop them from doing so. Because of this, Goblin goes to Peter for help. He tells him that the Peter of their earth killed them. He also says that if they go back, they'll face their death so there's no way home.
Now Peter feels super guilty about this, and he steals the cube which leads to Strange chasing him across the city in the mirror dimension. There's apparently a moment where the city collapses in on itself, similar to how it did in the chase in Strange's solar movie. He uses his cape to capture Peter. Strange pushes out his astral form and manages to get the cube but it's too late. The villains escape again. The recent set photo for reshoots lines up with this.
According to Heavy Spoiler’s source, the major leaks we've heard with Osborn stealing an Arc reactor, and positioning it above the Statue of Liberty is true. The Statue of Liberty now carries a giant Captain America shield. They also said there is going to be a big character death, but it’s unknown so far since they've filmed several different endings. They're leaning into it being May, but it's still indefinite
