Stock markets are cheering. Bears are running for cover.

We’ve just completed the best nine days in the entire history of the S&P 500 index — which is now up 10 percent.

The S&P is now higher than it was on the April 2 “Liberation Day.”

The market is cheering the likelihood of significant trade deals.

The market is cheering the GDP report this week, where the underlying growth was really plus 3 percent.

The market is cheering today’s job report which beat all expectations — and shows that private payrolls are rising while government payrolls are falling.

The market is cheering zero inflation for the month of March.

To quote President Trump on Truth Social: the market is cheering “$1.98 (wholesale gasoline), groceries down, energy down, mortgage rates down, employment strong.”

And yes, he’s also right that the Federal Reserve should be cutting its Fed funds policy rate.

And I think stock markets are sniffing that one out too.

Yet there’s more.

The market knows that the “one, big, beautiful” bill will get through the House and Senate. Including new personal tax cuts with tax free tips, overtime, and social security benefits.

The market likes a return to 100 percent immediate expensing for machinery and equipment retroactive to January 20, 2025. That will boost profits which are the mother’s milk of stocks and the backbone of real wage increases for middle-class working Americans.

The market loves the 15 percent Made in America corporate tax rate.

Also, good for profits, which are the lifeblood of the entire economy.

The market also likes factory investment that will similarly be eligible for 100 percent bonus depreciation in year one, retroactive to January 20, a fabulous policy to hire blue-collar workers and generate big pay increases to cover the kitchen table and beyond.

The market likes Trump’s tough budget put out today — which would cut $163 billion of non-defense discretionary spending.

That could move the spending baseline in inflation adjusted terms, all the way back to the year 2000.

And if you weren’t convinced of my bullish market optimism, consider Mr. Trump’s proclamation of a national day of prayer.

Mr. Trump is putting God and a religious revival back into American life.

In this proclamation he talked about the grace of almighty God, he thanked God for his endless blessing, and said quote “my administration is fighting to defend America’s longstanding legacy of prayer, faith, and trust in God” end quote.

As the late, great William F. Buckley Jr. wrote in the early 50’s in his best-selling book “God and Man at Yale,” you can’t have a truly strong and healthy nation without faith in God.

When I received the William F. Buckley political award at the Reagan Library two years ago, I echoed Buckley’s thinking about the importance of our Judeo-Christian traditions and the importance of faith.

National Review Online reported it as God and Man at the Reagan library.

What Mr. Trump did yesterday was God and Man in the White House Rose Garden.

Or, perhaps, we should simply say: God and Trump in the Rose Garden.

And thank the president for it.

From Mr. Kudlow’s broadcast on Fox Business Network.