Amazon rises, drives the Nasdaq 100 index to all-time high

Jason Redmond | AFP | Getty Images

Chief Executive Officer of Amazon, Jeff Bezos, tours the facility at the grand opening of the Amazon Spheres, in Seattle, Washington on January 29, 2018. 

Shares of Amazon rose nearly 2 percent Wednesday after a price target boost from Morgan Stanley, and it’s driving the Nasdaq 100 to an all-time high.

The e-commerce giant, trading above $1971 at its peak Wednesday morning, contributed more than 15 positive points to the market index. That beats out Microsoft’s 9-point positive impact and Apple’s 6-point positive impact. The index has been trading at record levels all week amid overall market gains.

Amazon stock is up almost 70 percent in 2018 and has more than doubled in the last 12 months.

Separately Wednesday, Amazon rejected claims by Senator Bernie Sanders of poor worker conditions in a rare political statement for the e-commerce giant.