I think the general idea is that they were lamenting the death of their leader, Jesus, and were especially despairing because they had heard he had risen again but failed to find him when they looked - but all the time the man to whom they were confiding their despair was Jesus himself. He rebuked them for not having more faith, since they should have known from the scriptures that he would return. So the story is sometimes told to illustrate how easily people lose faith.
This is after the resurrection and before the transfiguration of jesus.these passages also show that even though they knew who Jesus was before the crucifixion they did not recognize him(believing him to be dead and not risen) until he broke bread holding it up in the air giving thanks to the father for the food the way he always did and that is when they realized who he was(it is also believed that this is when the marks of the nail holes we're visible).even after he had went through all the scriptures describing his death and resurrection as foretold by all the preceding prophets and teachers. Then they went into the city to the apostles and revealed that they had seen the risen Christ. And this is part of the reason why it is believed that the holy spirit was (needed by)given to us in order to help direct us while Jesus is not here on earth,to help us remember what he said before the transfiguration where he left his human body behind.
I think that it means that the followers of Jesus, did not truly believe, that he was risen, Christ recognized and knew that. They were concerned, thinking someone had removed the body for desecration. They did not believe the women. It was in the Act of Communion or Sacrament, that their eyes were opened.