US markets hit highs after Trump alleviates fears of 'great civil war,' Jim Cramer says

President Donald Trump applauds during a joint session of Congress in Washington, D.C., U.S., on Tuesday, Feb. 28, 2017.
Jim Lo Scalzo/Pool | Getty Images
President Donald Trump applauds during a joint session of Congress in Washington, D.C., U.S., on Tuesday, Feb. 28, 2017.

U.S. markets hit all-time highs Wednesday after President Donald Trump maintained a nonpolarizing tone in his speech to Congress, CNBC's Jim Cramer said Wednesday.

"There's a sense that we are not going to be in some sort of great civil war," Cramer said on "Squawk on the Street."

On Tuesday night, Trump addressed a joint session of Congress with a long list of promises though he was light on specifics, especially on tax reform and deregulation. His speech, however, was praised for its positive tone.

The Dow was up more than 200 points midmorning Wednesday, while the S&P 500 climbed 1 percent, with financials rising 2.3 percent to lead advancers. The Nasdaq gained nearly 1 percent.

Markets are also looking toward the probability that the Federal Open Market Committee will approve a rate increase at its March 14-15 meeting. Expectations shifted after hawkish statements from several prominent Fed officials.

— CNBC's Fred Imbert contributed to this report.