The JSE was flat on Tuesday morning with all eyes on international markets which are awaiting for news from the US earnings season.

A local equities trader said the firm rand and softer commodities prices would put a lid on the local market for the time being.

At 9.20am the JSE all share index was off 0.10 percent, with resources 0.41 percent lower and gold miners 0.95 percent weaker, while platinum miners shed 0.38 percent. Banks and financials were firmer, up 0.48 percent and 0.40 percent respectively, while industrials were virtually unchanged.

The rand was bid at 7.35 to the dollar from 7.30 just before the JSE closed on Monday. Gold was quoted at $1054.30 a troy ounce from $1056.78 at the JSE's last close, and platinum was at $1346.00 an ounce, from $1323 at its previous close.

Traders said the market is treading water ahead of the start of the US corporate earnings season, although one commented that the market is expecting Q3 earnings to be better year-on-year and quarter-on-quarter, so this has already been factored in to some extent.

Dow Jones Newswires reported European bourses are called to open lower after feeble performances in Asian and US markets on Monday.

For Tuesday's opening, IG Markets is calling the FTSE down 14 at 5196, the DAX off 25 at 5758 and the CAC off 21 at 3825.

"Any upside surprise in earnings driven by top-line growth could drive further equity gains," said analysts at Barclays Capital bank in London.

Investment firm Charles Schwab & Co said the results will be "helping Wall Street get a better idea about whether the economic recovery will continue."

"We do not think that analysts have fully caught up with the speed of cost-cutting seen in the first half of the year," said European equity strategists at ING. "We think there is still more to come in the way of margin surprise in the third quarter. With sales surprisingly stabilising, this means that we should see another good season for earnings surprises. This should in turn help the market make progress," they added.

Wall Street futures are a bit lower on Tuesday after markets managed a slightly higher finish on Tuesday ahead of a barrage of earnings results this week. The Dow Jones industrial average closed up 20.86 points on Monday.

"A weaker dollar is helping boost crude oil and metals prices, with the Dow Jones Industrials touching a new high for the year and getting closer to the 10 000 mark not seen since October 2008," analysts at Charles Schwab & Co said in a note to clients.

Another barrage of corporate results and economic data this week will test market momentum, but analysts are bracing for improved bottom line for top firms.

Among blue chip companies due to report their third quarter results this week are Intel, JPMorgan Chase, Citigroup, Goldman Sachs, Google, IBM, Bank of America, General Electric and Johnson & Johnson.

In Asia on Tuesday, the Nikkei closed up 0.6 percent, while the Hang Seng was last 1.6 percent firmer.