The first trailer for Baz Luhrmann’s latest film The Great Gatsby has hit the web this week, and it looks every bit as spectacular and overblown as you’d expect from the director of Moulin Rouge! and Romeo + Juliet. In this case, however, it makes perfect sense for an adaptation of F. Scott Fitzgerald’s great American novel, which takes its name from millionaire Jay Gatsby, who throws extravagant parties at his mansion in Long Island. Leonardo DiCaprio plays the titular role and Tobey Maguire stars as main character Nick Carraway, while Joel Edgerton and Carey Mulligan play Tom and Daisy Buchanan.

Although the movie is a period piece set in the 1920s, the trailer opens to the sound of Kanye West and Jay-Z’s “No Church in the Wild”, which would seem to indicate that Luhrmann is up to his usual trick of injecting modern pop culture into old classics. It’s still unclear if the movie’s soundtrack will actually consist of contemporary songs, however. The decision to shoot the film in 3D will probably also upset traditionalists, but with the crazy visuals on display here, I think it could actually be pretty interesting. The Great Gatsby hits theatres this Christmas; check out the trailer after the jump and see what you think.