Psalm 118:23 says, "This is from Jehovah,/And it is wonderful in our sight." Here we are told that Christ's becoming the cornerstone was from Jehovah and that it is wonderful in our eyes.
Verse 24a goes on to say, "This is the day that Jehovah has made." This day is the day of Christ's resurrection. On the day of His resurrection, on the Lord's Day (Acts 20:7; 1 Cor. 16:2; Rev. 1:10), the Lord Jesus was made the cornerstone by God. This is why we like to meet together on the Lord's Day, a very particular day.
Psalm 118:24b continues, "Let us exult and rejoice in it." Here we are charged to exult and rejoice in this day. This indicates that we should come to the meetings with rejoicing, praising the Lord. However, when many come to the meetings, they are silent, as if they do not have a spirit and a mouth. In the meetings, let us exercise our spirit and open our mouth to rejoice in the Lord and to praise Him for His being made the cornerstone.
Verse 25 says, "O Jehovah, do save, we pray!/O Jehovah, do send prosperity, we pray!" In Hebrew the words "do save" are hoshiah-na, the source for hosanna in the New Testament (Matt. 21:9; Mark 11:9-10; John 12:13). The prosperity mentioned in Psalm 118:25 is not material; rather, it refers to rich blessings that are heavenly, spiritual, and divine. This is the kind of prosperity described in Ephesians 1, which speaks of the heavenly, spiritual, and divine blessings given to us by the Triune God. Verse 3 says, "Blessed be the God and Father of our Lord Jesus Christ, who has blessed us with every spiritual blessing in the heavenlies in Christ." According to Ephesians 1, the first portion of these blessings is of God the Father (vv. 3-6); the second portion is of God the Son (vv. 7-12); and the third portion is of God the Spirit (vv. 13-14). If we are interested in these blessings, we will be brought into the enjoyment of the prosperity sent to us by God because of Christ's being the cornerstone.