Feb. 22 (Bloomberg) -- U.S. stock-index futures fell as oil prices climbed above $49 a barrel in New York. Shares of Winn- Dixie Stores Inc. slid after the supermarket operator filed for Chapter 11 bankruptcy protection.

``If oil prices go up, it's bad for everyone except oil companies,'' said Philippe Gijsels, chief strategist at Fortis's private investment unit in Brussels, which has $62 billion in assets. ``This is not the time to buy U.S. stocks. There are questions about the strength of U.S. economic growth.'' Gijsels said he favors energy companies, without naming any.

Standard & Poor's 500 Index futures expiring in March declined 5.2 to 1197.1 as of 8:03 a.m. in New York. Dow Jones Industrial Average futures lost 49 to 10,748 and Nasdaq-100 Index futures slid 12 to 1505. U.S. exchanges were closed yesterday for the President's Day holiday.

U.S. consumer confidence probably declined in February, hovering below a six-month high, economists said before today's private report. Federal Reserve Chairman Alan Greenspan last week said consumer spending may slip as interest rates rise.

Home Depot Inc. shares advanced after the world's largest home-improvement retailer posted a 9.5 percent gain in quarterly profit. It is one of seven S&P 500 companies scheduled to report earnings today.

Oil Prices

Crude oil for March delivery rose 2.1 percent to $49.35 a barrel in electronic trading on the New York Mercantile Exchange. Oil climbed amid unusually cold weather in Northwest Europe and the U.S. Northeast, the largest markets for heating fuels. Prices earlier touched $49.62 a barrel, the highest since Jan. 27.

Winn-Dixie shares fell 24 cents to $1.23 in Germany. The operator of about 920 supermarkets in the southern U.S. filed for Chapter 11 bankruptcy protection after losses and a reduction of credit from vendors limited the company's access to cash. Wachovia Bank NA has agreed to provide an $800 million debtor-in- possession loan to supplement cash flow during the reorganization process. The retailer's stores remain open.

The Conference Board's index of U.S. consumer confidence is expected to fall to 103 in February from 103.4, according to the median forecast of economists in a Bloomberg News survey. January's reading was the highest since 105.7 in July. The report is scheduled for 10 a.m. Washington time.

The Labor Department tomorrow will probably say consumer prices in January rose 0.2 percent overall from the previous month, according to the median estimate of economists in a Bloomberg survey.

The annualized increase in the core index was likely 2.3 percent, the most since August 2002, surveys showed. Overall consumer prices were unchanged in December. The Fed has raised its target interest rate six times since June.

Home Depot

Home Depot climbed 30 cents to $42.32 in Germany. The company reported fourth-quarter earnings rose 9.5 percent to 47 cents a share as demand from contractors and holiday sales increased. The retailer reiterated its 2005 sales growth forecast.

Shares of MCI Inc., the second-largest U.S. long-distance telephone company, may rise on expectations Qwest Communications International Inc. will sweeten its $8 billion takeover offer for the company as soon as this week.

Qwest executives are considering announcing new terms of its cash and stock offer as early as Wednesday, said a person familiar with the matter. The Wall Street Journal earlier reported a new offer may come this week. Tyler Gronbach, a spokesman for Qwest, declined to comment. MCI shares didn't trade in Europe. Qwest lost 4 cents to $3.91 in Germany.

AT&T

AT&T Corp. fell 8 cents to $19.33 in Germany. The largest U.S. long-distance phone company may be forced to pay as much as $500 million in fees on prepaid telephone calling cards after U.S. regulators rejected the company's arguments that it should be exempt, people familiar with the matter said.

To contact the reporter on this story: Margo Towie in Brussels at mtowie@bloomberg.net.

Last Updated: February 22, 2005 08:09 EST