29-36: Peter gives the reason for his quotation of Psalm 16:8-11. David is dead and buried, so who was David talking about? It must have been Jesus! Peter goes on to quote from Psalm 110:1 to show that David is certainly talking about Jesus, and that Jesus must be both Lord and Christ.
37-41: The crowd wants to know how to respond to Peter’s message. He tells them that they need to repent (turn from sin), and be baptized because their sins have been forgiven! The Greek preposition used here and translated “for” is most often translated “into,” but can also be translated “with respect to.” So, a very possible translation of 2:38 could be, “Repent, and each one of you be baptized in the name of Jesus Christ with respect to the forgiveness of sins.” This is clearer, because it doesn’t make baptism a prerequisite for forgiveness. Anyone who believes will receive the promised Holy Spirit, and the promise isn’t just restricted to Israel!
Acts 2:39 “For the promise is for you and for your children and for all who are far off, everyone whom the Lord our God calls to himself.”
42-47: The new believers “were devoting themselves to the apostles teaching.” What a reminder for us today! And we should also be encouraged to emulate their fellowship, their love, and their care for one another. Intense times of revival like we have here seem to be marked by both a commitment to the Word and the care of the church, most likely in response to the leading of the Spirit.