Long-term mutual funds netted $13.51 billion in the week ended May 6, according to the Investment Company Institute, marking the eighth straight week that the funds have taken in money, for a total of $78 billion.

Stock funds took in $8.17 billion, up markedly from $465 billion in the previous week, prompting some traders to believe the end of the bear market might be near.

U.S. equity funds took in $9.85 billion, while international equity funds lost $1.68 billion.

Bond funds netted $3.83 billion, down from the $5.61 billion they took in for the week ended April 29.

Separately, money market funds lost $2.17 billion in the week ended May 6, following four straight weeks of outflows.

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