AIO Finance Analysis

As expected, FED cut its rates again ~ FED funds rate to 3% and Discount rate to 3.5%. Stock rallied as soon as FED announced they cut its rates but the rally was short lived.

Is it because wall streets has rallied for the past 2 days and price already factor in the rate cuts? Or maybe jobless rate (will be announced on Friday)will give us a hint that recession is on sight????