United manager Sam Allardyce had hoped to have one or both of Shola Ameobi and Owen fit for selection, but the pair were one again on the sidelines.
With summer signing Mark Viduka also yet to link up with the side following international duty, Martins and Luque took the chance to impress up front.
But it was Juventus who had the first chance, Italy forward Vincenzo Iaquinta making light work of Paul Huntington's challenge before rolling the ball straight at Shay Given in the Newcastle goal.
The Turin side set the pace early on and it was against the run of play when Mark Clattenburg awarded the hosts a ninth-minute penalty as Jonathan Zebina impeded James Milner in the area.
That gave Luque the opportunity to convert from the spot and he did so calmly to grab his third goal in two games following a brace against Celtic.
Milner continued to threaten on the left flank, twice breaking dangerously on the counter-attack, while Iaquinta looked to have the beating of Huntington when the visitors had possession.
Marco Marchionni also impressed but his finishing could not match some fine approach play.
Soon after, an underhit clearance by Huntington gave Juventus possession and when captain Pavel Nedved hooked a shot hard and low at the Newcastle goal it took a diving save from Given to preserve his side's advantage.
The lead doubled when an astute pass from Charles N'Zogbia put Martins clear on goal.
His powerful shot was parried by Gianluigi Buffon and when the loose ball found its way to Andy Carroll, on the pitch for two minutes as Luque came off with a minor knock, he composed himself before firing across the World Cup-winning goalkeeper and into the net.
Allardyce made changes at the interval, with Kieron Dyer - who has been linked with a move to West Ham or Tottenham - among the new arrivals.
Although he received a mixed greeting from the fans he started brightly and was central to a move that saw N'Zogbia narrowly miss with a drilled shot from 30 yards.
The Magpies continued to pressure their opponents and Nolberto Solano 's 53rd-minute free-kick missed everyone in the box before forcing a good save from Buffon.
Juve briefly came to life on the hour mark when a nice piece of control allowed Marchionni time to line up a shot from just outside the area.
He hit a curling, right-footed effort but Given was equal to it and pushed it forcefully to safety.
Two minutes later, Dyer picked up the ball and dashed 60 yards, exchanging passes with Matthew Pattison before showing neat footwork to glide into the box.
The England midfielder stopped before releasing his shot but Buffon's outstretched hand denied him.
In an increasingly youthful team - Solano and Steven Carr making way for Darren Lough and Charlie Barnett, who joined Pattison, James Troisi and David Edgar on the pitch - Dyer was becoming influential and had a penalty appeal turned down as he again attacked at speed.
N'Zogbia, another one of the few remaining first-team regulars, also shouldered responsibility and tested Buffon with a well judged free-kick 15 minutes from time.
The Italians also opted to blood some less celebrated players in the second half but it was skipper Nedved who spurned their best chance, scooping the ball over the crossbar after being allowed to enter the area unattended.
Dyer nearly capped things off for Newcastle with a cheeky back-heel into the net, but his effort was disallowed for offside.