Sept 5 (Reuters) -ICE cotton futures were largely stagnant on Thursday, as some upbeat sentiment in the oil and equities markets offset pressure from a stronger U.S. dollar and waning demand, while traders awaited a federal weekly export sales report.

* Cotton contracts for December CTZ4 rose 0.02 cent, or 0.03% to 69.83 cents per lb at 11:07 a.m. EDT (1507 GMT).

* "The market is continuing to move sideways, right around $0.70, as it waits for some additional macro information. We don't see a tonne of activity or updates today in terms of new developments on pricing," said Bailey Thomen, cotton risk management consultant at StoneX Group.

* "We do continue to see some impact from the U.S. dollar today as it rallied back off the lows, and could be adding a little bit of headwinds for cotton at the moment."

* The U.S. dollar =USD inched up 0.1%, making cotton more expensive for overseas buyers.

* The Nasdaq and the S&P 500 inched up after a services activity survey allayed some fears of a slowdown in economic activity. .N

* Oil firmed, edging up from multi-month lows, due to a possible delay to output increases by OPEC+ producers and a decline in U.S. inventories. O/R

* Higher oil prices make cotton-substitute polyester more expensive.

* Investors are now awaiting the weekly export sales report from the United States Department of Agriculture due on Friday, a day later than usual due to the Labor Day holiday.

* "The expectations are for another relatively quiet report. We don't anticipate any major sales or shipments having happened this past week, mostly because it's been relatively quiet in the market," Thomen said.

Reporting by Anjana Anil in Bengaluru; Editing by Vijay Kishore