Woody Allen's new comedy Blue Jasmine released its first trailer on Friday, featuring an all-star cast.

The plot-heavy trailer features Cate Blanchett as the titular Jasmine, an upper class neurotic New Yorker whose husband (Alec Baldwin) gets arrested for fraud. Newly poor, Jasmine is forced to move in with her sister (Sally Hawkins) in San Francisco.

Over the past few years, Allen has brought awards success to his films, winning the Oscar for Best Original Screenplay in 2012 for Midnight in Paris.  Penelope Cruz won the Oscar for Best Supporting Actress in 2009 for Vicky Cristina Barcelona, another Allen film.

With Blanchett being the showcase performance of the trailer, history dictates that there will be a campaign to get her a nomination for this role.

In the trailer alone, she has many dramatic lines, including: "You choose losers because that's what you think you deserve. And that's why you'll never have a better life."

She also gets to deliver some comedic lines, such as: "For some reason my Xanax isn't kicking in."

The Wall Street Journal noted on May 30 that Blue Jasmine had parallels to the Bernie Madoff Ponzi scheme scandal, with Baldwin's character getting arrested for similar charges. Madoff's husband, Ruth, was forced to deal with angry investors who were scammed after his arrest, which is similar to what Jasmine deals with in the film.

In January, the film was described as "the story of the final stages of an acute crisis and a life of a fashionable New York housewife," in a press release. Though there are traces of this statement in the trailer, it seems that there's much more to the plot than previously imagined.

Blue Jasmine also stars Louis C.K., Bobby Cannavale, Peter Sarsgaard, Andrew Dice Clay and Tammy Blanchard. 

Blue Jasmine is scheduled to be released in theaters on July 26.

Watch the trailer here: