US STOCKS-Dow, S&P 500 open up on Alcoa; Nasdaq off

(Updates to open)

NEW YORK, July 9 (Reuters) - The Dow and S&P 500 opened higher on Wednesday as Alcoa's (AA.N: Quote, Profile, Research) solid quarterly results boosted optimism about profits, but the Nasdaq slipped following price target reductions on tech bellwether Cisco Systems Inc (CSCO.O: Quote, Profile, Research).

The Dow Jones industrial average .DJI was up 0.73 point, or 0.01 percent, at 11,384.94. The Standard & Poor's 500 Index .SPX was up 0.17 points, or 0.01 percent, at 1,273.87. The Nasdaq Composite Index .IXIC was down 11.39 points, or 0.50 percent, at 2,283.05. (Reporting by Walter Brandimarte, Editing by Kenneth Barry)