3rd March 2026 – Trump has officially made everything white noise as Stocks finish unchanged

Global markets largely ignored escalating Middle East tensions and rising inflation signals, with US indices finishing flat while the ASX benefits from rotation into value, energy, critical minerals and defence amid ongoing geopolitical instability.​US equities were broadly unchanged despite heightened geopolitical risk, with Nvidia bouncing and defence and oil names rallying in a counterintuitive move.​Rising oil and commodity prices plus hotter manufacturing PMIs flag renewed inflation pressure that should in theory weigh on broader equities.​Defence stocks held by MPC (e.g. RTX, BAE, Lockheed) are up around 4–5%, and the view is you cannot be long enough European defence while instability persists.​Gold is up about 2% for the week and pullbacks in silver, copper and platinum are framed as potential opportunities given strong industrial demand and supply gaps.​Rotation from growth into real assets and value continues, favouring the ASX 200 over growth‑heavy markets, while US banks warn of looming pain for equities.​MPC prefers cash plus high‑conviction real assets and defence, avoiding fringe names, and highlights a 12‑month “software survivors” note as a way to ride out volatility.