BEIJING—Global stocks were mixed Thursday after China cut interest rates and President Joe Biden said “we’re not there yet” on lowering punitive tariffs on Chinese goods. London and Tokyo gained while Shanghai and Frankfurt declined. Wall Street futures were higher after the benchmark S&P 500 index lost 1 percent on Wednesday. The Chinese central bank cut rates on one- and five-year loans after growth in the world’s second-largest economy sank to 4 percent over a year earlier in the latest quarter following a crackdown on surging debt among real estate developers. “The question remains whether banks will respond by increasing lending,” Iris Pang of ING said in a report. Amid uncertainty about heavily indebted developers, Pang said, “banks will be picky about who they lend to.” Biden said Wednesday it was uncertain when his administration could lift tariffs imposed by his predecessor, Donald Trump, on Chinese imports beginning in 2018 …