What you need to know on Wall Street today

Hollis Johnson

Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

Snap Inc. announced the biggest redesign in Snapchat’s six-year history, featuring a new kind of algorithmically sorted feed that borrows ideas from the likes of Facebook and Netflix. Business Insider first reported details of the planned redesign earlier this month. So far, markets have not responded enthusiastically.

Chipotle’s founder plans to step down as the struggling chain begins the hunt for a new CEO – news that sent the company’s stock soaring. The company is facing a reckoning – we visited a Chipotle and saw why it may never be the same again.

Secretive trading firm Jump Trading is undergoing a shakeup. CTO Steve Hunt has left the firm after a tenure of more than a decade, Business Insider reports.

US GDP surged to 3.3% in the third quarter – the best level since 2014.

In other markets news:

And in Washington:

ESPN is laying off another 150 employees, most of which worked behind the scenes. The network laid off almost 300 employees in 2015, and in April, 100 more employees were let go, including many on-air personalities.

Lastly, here are the 50 best beaches in the world, according to travel experts.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.