* Stocks boosted by bargain-hunting as rates ease

* MasterCard rises after better-than-expected results

* GE climbs after Wall Street Journal report

* Dow up 1.8 pct, S&P up 1.9 pct, Nasdaq up 1.6 pct (adds indexes)

(Updates to early morning)

By Leah Schnurr

NEW YORK, Nov 4 (Reuters) - U.S. stocks climbed on Tuesday as Americans began voting in the race for the White House, while investors picked up shares trading around five-year lows amid further signs of easing in credit markets.

MasterCard Inc (MA.N: Quote, Profile, Research), the world's second-largest card network, rose more than 10 percent after the company reported better-than-expected earnings late on Monday. Dow component American Express (AXP.N: Quote, Profile, Research) gained 5 percent.

Economic bellwether General Electric (GE.N: Quote, Profile, Research) was the biggest boost on the Dow, rising 7 percent after the Wall Street Journal reported the Treasury Department is considering using more of its $700 billion rescue package to buy stakes in a wide range of financial companies, such as GE's GE Capital unit.