The first trailer for Woody Allen’s latest film, Blue Jasmine, was released today. The film revolves around a privileged New York housewife (played by Cate Blanchett) that struggles in the face of her husband’s (Alec Baldwin) financial woes. Blanchett is an Academy Award winning actress known for films such as The Aviator (2004), Babel (2006), I’m Not There (2007), and The Lord of the Rings films. She is currently working on Kenneth Branagh’s Cinderella and the next two additions to the The Hobbit franchise. The Australian actress’s performance in the trailer looks, unsurprisingly, phenomenal and could most definitely lead to an Oscar nomination and perhaps a second Academy Award for the esteemed actress.

Baldwin’s acting career is oftentimes overshadowed by his personal life, but the actor has starred in films such as Pearl Harbor, The Departed, and, like Blanchett, The Aviator; he is also known for his role as Jack Donaghy on NBC’s 30 Rock. Baldwin also starred in Allen’s 2012 film To Rome with Love. Louis C.K. will also appear in the film (we get a quick peek of him in the trailer), which will surely prove to be an interesting departure for the comedian who is known for his stand-up and FX television show Louie. C.K. will also appear in David O’Russell’s much-anticipated and shrouded-in-mystery film American Hustle alongside the likes of Jennifer Lawrence, Bradley Cooper, Amy Adams, Christian Bale, and Robert De Niro.

Allen has been one of the industry’s most prolific director through his long career, directing 49 films since the 60’s, with Vicky Christina Barcelona (2008) and Midnight in Paris (2011) standing as examples of his most successful, recent films. Allen both wrote and directed Blue Jasmine, which opens in theaters July 26th. Check out the trailer below for a quick snippet of Allen’s distinctive writing and directing style as well as what appears to be a show-stealing performance by Blanchett.

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