The movie Forrest Gump was released to the public, becoming a cultural phenomenon and winning multiple Academy Awards.
The first successful manned moon landing occurred, an event referenced in the cultural context of the movie.
The Watergate scandal led to President Nixon's resignation, a major political event during the time period of the movie.
The peak of the hippie movement, which is part of the cultural backdrop in the movie, especially related to the anti-war protests.